Form 990 OMB No. 1545-0047 Return of Organization Exempt From Income Tax 2017 Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except private foundations) ▶ Department of the Treasury Internal Revenue Service A For the 2017 calendar year, or tax year beginning B Check if applicable: C Name of organization TRUSTEES OF DARTMOUTH COLLEGE , 2017, and ending 07/01 Doing business as Name change Number and street (or P.O. box if mail is not delivered to street address) 02-0222111 E Telephone number Room/suite 7 LEBANON STREET, SUITE 302 6015 G Gross receipts $ HANOVER, NH 03755 Application pending F Name and address of principal officer: PHILIP HANLON I Tax-exempt status: J K Website: Activities & Governance 501(c)(3) 501(c) ( ) ◀ (insert no.) 4947(a)(1) or ✔ 527 H(c) Group exemption number Corporation Trust Association Other L Year of formation: ▶ Revenue Expenses ▶ M State of legal domicile: 1769 ✔ No 8204 NH Summary 1 Briefly describe the organization’s mission or most significant activities: 2 3 4 5 6 7a b Check this box ▶ if the organization discontinued its operations or disposed of more than 25% of its net assets. 22 3 Number of voting members of the governing body (Part VI, line 1a) . . . . . . . . . 20 Number of independent voting members of the governing body (Part VI, line 1b) . . . . 4 10,253 Total number of individuals employed in calendar year 2017 (Part V, line 2a) . . . . . 5 13,100 Total number of volunteers (estimate if necessary) . . . . . . . . . . . . . . 6 53,768,160 Total unrelated business revenue from Part VIII, column (C), line 12 . . . . . . . . 7a 11,036,236 Net unrelated business taxable income from Form 990-T, line 34 . . . . . . . . . 7b DARTMOUTH COLLEGE EDUCATES THE MOST PROMISING STUDENTS AND PREPARES THEM FOR A LIFETIME OF LEARNING AND OF RESPONSIBLE LEADERSHIP, THROUGH A FACULTY DEDICATED TO TEACHING AND THE CREATION OF KNOWLEDGE. Prior Year Net Assets or Fund Balances Yes H(b) Are all subordinates included? Yes No If “No,” attach a list. (see instructions) HTTPS://HOME.DARTMOUTH.EDU/ Form of organization: Part I ✔ 5,873,714,243 H(a) Is this a group return for subordinates? SAME AS C ABOVE ▶ (603) 646-3011 City or town, state or province, country, and ZIP or foreign postal code Final return/terminated Amended return , 20 18 06/30 D Employer identification number Address change Initial return Open to Public Inspection Do not enter social security numbers on this form as it may be made public. ▶ Go to www.irs.gov/Form990 for instructions and the latest information. 8 9 10 11 12 13 14 15 16a b 17 18 19 Contributions and grants (Part VIII, line 1h) . . . . . . . . . . . . Program service revenue (Part VIII, line 2g) . . . . . . . . . . . Investment income (Part VIII, column (A), lines 3, 4, and 7d) . . . . . . Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e) . . . Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12) Grants and similar amounts paid (Part IX, column (A), lines 1–3) . . . . . Benefits paid to or for members (Part IX, column (A), line 4) . . . . . . Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10) Professional fundraising fees (Part IX, column (A), line 11e) . . . . . . 48,324,551 Total fundraising expenses (Part IX, column (D), line 25) ▶ Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e) . . . . . Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25) . Revenue less expenses. Subtract line 18 from line 12 . . . . . . . . Current Year 351,100,124 504,275,306 377,875,748 35,090,599 1,268,341,777 168,059,039 0 507,347,906 0 404,610,910 519,360,557 475,762,086 35,788,734 1,435,522,287 175,989,195 0 506,824,396 357,774 432,375,284 1,107,782,229 160,559,548 408,248,440 1,091,419,805 344,102,482 End of Year Beginning of Current Year 20 21 22 Total assets (Part X, line 16) . . . . . . . . . . Total liabilities (Part X, line 26) . . . . . . . . . . Net assets or fund balances. Subtract line 21 from line 20 Part II . . . . . . . . . . . . . . . . . . 7,882,975,225 2,179,046,291 5,703,928,934 8,275,901,513 1,832,601,196 6,443,300,317 Signature Block Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than officer) is based on all information of which preparer has any knowledge. ▲▲ Sign Here Paid Preparer Use Only Date Signature of officer Type or print name and title Print/Type preparer’s name GAIL GOODNESS, CONTROLLER Preparer's signature Date Check if self-employed Firm’s name ▶ Firm's EIN Firm's address ▶ Phone no. May the IRS discuss this return with the preparer shown above? (see instructions) . For Paperwork Reduction Act Notice, see the separate instructions. 5/13/2019 8:13:38 AM 1 . . . . . Cat. No. 11282Y 2017 Return . . . PTIN ▶ . . . Yes No Form 990 (2017) Trustees of Dartmouth College 02-0222111 Page 2 Form 990 (2017) Part III 1 Statement of Program Service Accomplishments Check if Schedule O contains a response or note to any line in this Part III . . . . . . . . . . . . . ✔ Briefly describe the organization’s mission: DARTMOUTH COLLEGE EDUCATES THE MOST PROMISING STUDENTS AND PREPARES THEM FOR A LIFETIME OF LEARNING AND OF RESPONSIBLE LEADERSHIP, THROUGH A FACULTY DEDICATED TO TEACHING AND THE CREATION OF KNOWLEDGE. 2 3 Did the organization undertake any significant program services during the year which were not listed on the prior Form 990 or 990-EZ? . . . . . . . . . . . . . . . . . . . . . . . . . . . Yes ✔ If “Yes,” describe these new services on Schedule O. Did the organization cease conducting, or make significant changes in how it conducts, any program services? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Yes ✔ No 4 No If “Yes,” describe these changes on Schedule O. Describe the organization's program service accomplishments for each of its three largest program services, as measured by expenses. Section 501(c)(3) and 501(c)(4) organizations are required to report the amount of grants and allocations to others, the total expenses, and revenue, if any, for each program service reported. 4a (Code: 4b 4c 572,860,081 including grants of $ 163,700,225 ) (Revenue $ 402,247,896 ) ) (Expenses $ EDUCATION AND ACADEMIC SUPPORT: A DARTMOUTH EDUCATION IS UNLIKE ANY OTHER. THROUGH PERSON-TO-PERSON TEACHING AND OPPORTUNITIES TO CREATE AND APPLY KNOWLEDGE ON CAMPUS AND ACROSS THE GLOBE, DARTMOUTH INSTILLS A LOVE OF LEARNING AMONG ITS STUDENTS AND EMPOWERS THEM FOR A LIFETIME OF LEADERSHIP. ACADEMICS AT DARTMOUTH ARE INNOVATIVE, INTERDISCIPLINARY, INTERNATIONAL, AND INDIVIDUALIZED FOR EACH STUDENT. EACH STUDENT'S EXPERIENCE IS DISTINGUISHED BY BREADTH, DEPTH, AND PERSONAL CONNECTIONS WITH TOP FACULTY. THE INSTITUTION COMPRISES THE FACULTY OF THE ARTS & SCIENCES, THE FRANK J. GUARINI SCHOOL OF GRADUATE AND ADVANCED STUDIES, AND THREE PROFESSIONAL SCHOOLS: THE THAYER SCHOOL OF ENGINEERING, THE TUCK SCHOOL OF BUSINESS, AND THE GEISEL SCHOOL OF MEDICINE. DARTMOUTH'S APPROXIMATELY 950-PERSON FACULTY TEACHES AND GUIDES APPROXIMATELY 6,500 UNDERGRADUATE AND GRADUATE STUDENTS. DARTMOUTH'S LIBRARY SYSTEM DIRECTLY SUPPORTS THE RESEARCH AND TEACHING MISSION OF DARTMOUTH COLLEGE, AS WELL AS THE LIFE-LONG LEARNING NEEDS OF THE DARTMOUTH COMMUNITY, BY PROVIDING (CONTINUED ON SCHEDULE O) 188,327,038 including grants of $ 10,098,522 ) (Revenue $ 9,299,028 ) (Code: ) (Expenses $ RESEARCH & RESEARCH SUPPORT: AT DARTMOUTH, TEACHING AND RESEARCH ARE INEXTRICABLY LINKED. DARTMOUTH OFFERS UNDERGRADUATE STUDENTS A RIGOROUS CURRICULUM AT THE FOREFRONT OF HIGHER EDUCATION AND DARTMOUTH FACULTY PURSUE RESEARCH AT THE HIGHEST LEVELS OF THEIR DISCIPLINES. STUDENTS CONDUCT INDEPENDENT STUDY THROUGH ONE-ON-ONE SUPERVISION WITH A FACULTY MEMBER OR WORK AS A MEMBER OF A RESEARCH GROUP IN STATE-OF-THE-ART FACILITIES. DARTMOUTH IS HOME TO WORLD-CLASS SCHOLARS IN THE FACULTY OF ARTS & SCIENCES, THE GUARINI SCHOOL OF GRADUATE AND ADVANCED STUDIES, THE THAYER SCHOOL OF ENGINEERING, THE TUCK SCHOOL OF BUSINESS, AND THE GEISEL SCHOOL OF MEDICINE-WHICH HAS STRONG TIES TO THE DARTMOUTH-HITCHCOCK CLINIC AND THE MARY HITCHCOCK MEMORIAL HOSPITAL. IN ADDITION, DARTMOUTH HAS MORE THAN 50 RESEARCH-FOCUSED CENTERS, INSTITUTES, AND GROUPS IN AREAS RANGING FROM MEDICINE AND THE ARTS TO ENGINEERING AND BUSINESS. MANY OF THESE ARE INTERDISCIPLINARY AND JOIN FACULTY AND STUDENTS FROM ACROSS THE INSTITUTION TO WORK ON COMPLEX ISSUES. DURING FISCAL 2018, FACULTY AND (CONTINUED ON SCHEDULE O) 179,341,745 including grants of $ 2,190,448 ) (Revenue $ 107,813,633 ) (Code: ) (Expenses $ CAMPUS LIFE: OUR CLOSE-KNIT COMMUNITY IS A DISTINCTIVE AND ENDURING FEATURE OF THE DARTMOUTH EXPERIENCE. FOR STUDENTS, THE PROCESS OF JOINING AND ADAPTING TO A NEW COMMUNITY CAN BE AS EDUCATIONALLY SIGNIFICANT AS THEIR ACADEMIC WORK. FOR THIS REASON, DARTMOUTH INVESTS RESOURCES IN CREATING A COMMUNITY THAT IS BOTH STIMULATING AND NURTURING. APPROXIMATELY 85% OF DARTMOUTH UNDERGRADUATES LIVE ON CAMPUS AND DARTMOUTH'S DIVERSE DINING FACILITIES ARE AN IMPORTANT PART OF CAMPUS LIFE. ATHLETICS AT DARTMOUTH COMPLIMENT THE OVERALL ACADEMIC AND INTELLECTUAL GROWTH OF DARTMOUTH STUDENTS, WITH MORE THAN 75% OF UNDERGRADUATES PARTICIPATING IN AT LEAST ONE OF THE 35 VARSITY TEAMS, 33 CLUB SPORTS TEAMS AND SEVERAL INTRAMURAL LEAGUES. IN ADDITION, FACILITIES SUCH AS THE HANOVER COUNTRY CLUB, DARTMOUTH SKIWAY, AND MORTON FARM PROVIDE AN OPPORTUNITY FOR RECREATION AND LEARNING BEYOND THE CLASSROOM. THERE ARE ALSO APPROXIMATELY 350 GRADUATE AND UNDERGRADUATE STUDENT GROUPS WHICH ALLOW STUDENTS TO EXPLORE INTERESTS IN DIVERSE AREAS, INCLUDING THE ARTS, ACADEMICS, ACTIVISM, CULTURE, POLITICS, SUSTAINABILITY AND OTHERS. 4d Other program services (Describe in Schedule O.) (Expenses $ including grants of $ 4e Total program service expenses ▶ 940,528,864 ) (Revenue $ ) Form 990 (2017) 5/13/2019 8:13:38 AM 2 2017 Return Trustees of Dartmouth College 02-0222111 Page 3 Form 990 (2017) Part IV Checklist of Required Schedules Yes 1 Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)? If “Yes,” complete Schedule A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Is the organization required to complete Schedule B, Schedule of Contributors (see instructions)? . . . Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office? If “Yes,” complete Schedule C, Part I . . . . . . . . . . . . . . Section 501(c)(3) organizations. Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year? If “Yes,” complete Schedule C, Part II . . . . . . . . . . . 4 5 Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19? If “Yes,” complete Schedule C, Part III . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts? If “Yes,” complete Schedule D, Part I . . . . . . . . . . . . . . . . . . . . . . . . Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures? If “Yes,” complete Schedule D, Part II . . . Did the organization maintain collections of works of art, historical treasures, or other similar assets? If “Yes,” complete Schedule D, Part III . . . . . . . . . . . . . . . . . . . . . . . . . . 7 8 9 10 11 a b c d Did the organization report an amount in Part X, line 21, for escrow or custodial account liability, serve as a custodian for amounts not listed in Part X; or provide credit counseling, debt management, credit repair, or debt negotiation services? If “Yes,” complete Schedule D, Part IV . . . . . . . . . . . . . . Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments? If “Yes,” complete Schedule D, Part V . . If the organization’s answer to any of the following questions is “Yes,” then complete Schedule D, Parts VI, VII, VIII, IX, or X as applicable. Did the organization report an amount for land, buildings, and equipment in Part X, line 10? If “Yes,” complete Schedule D, Part VI . . . . . . . . . . . . . . . . . . . . . . . . . . Did the organization report an amount for investments—other securities in Part X, line 12 that is 5% or more of its total assets reported in Part X, line 16? If “Yes,” complete Schedule D, Part VII . . . . . . . . Did the organization report an amount for investments—program related in Part X, line 13 that is 5% or more of its total assets reported in Part X, line 16? If “Yes,” complete Schedule D, Part VIII . . . . . . . . Did the organization report an amount for other assets in Part X, line 15 that is 5% or more of its total assets reported in Part X, line 16? If “Yes,” complete Schedule D, Part IX . . . . . . . . . . . . . . e Did the organization report an amount for other liabilities in Part X, line 25? If “Yes,” complete Schedule D, Part X f Did the organization’s separate or consolidated financial statements for the tax year include a footnote that addresses the organization’s liability for uncertain tax positions under FIN 48 (ASC 740)? If “Yes,” complete Schedule D, Part X . 12 a Did the organization obtain separate, independent audited financial statements for the tax year? If “Yes,” complete Schedule D, Parts XI and XII . . . . . . . . . . . . . . . . . . . . . . . . . . . b Was the organization included in consolidated, independent audited financial statements for the tax year? If “Yes,” and if the organization answered “No” to line 12a, then completing Schedule D, Parts XI and XII is optional 13 Is the organization a school described in section 170(b)(1)(A)(ii)? If “Yes,” complete Schedule E . . . . 14 a Did the organization maintain an office, employees, or agents outside of the United States? . . . . . b Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more? If “Yes,” complete Schedule F, Parts I and IV . . . . . 15 Did the organization report on Part IX, column (A), line 3, more than $5,000 of grants or other assistance to or for any foreign organization? If “Yes,” complete Schedule F, Parts II and IV . . . . . . . . . . . 16 Did the organization report on Part IX, column (A), line 3, more than $5,000 of aggregate grants or other assistance to or for foreign individuals? If “Yes,” complete Schedule F, Parts III and IV. . . . . . . . 17 Did the organization report a total of more than $15,000 of expenses for professional fundraising services on Part IX, column (A), lines 6 and 11e? If “Yes,” complete Schedule G, Part I (see instructions) . . . . . 18 Did the organization report more than $15,000 total of fundraising event gross income and contributions on Part VIII, lines 1c and 8a? If “Yes,” complete Schedule G, Part II . . . . . . . . . . . . . . . 19 Did the organization report more than $15,000 of gross income from gaming activities on Part VIII, line 9a? If “Yes,” complete Schedule G, Part III . . . . . . . . . . . . . . . . . . . . . . . 1 2 ✔ ✔ 3 4 ✔ ✔ ✔ 5 6 No ✔ 7 ✔ 8 ✔ 9 ✔ 10 ✔ 11a ✔ 11b ✔ 11c ✔ 11d 11e ✔ ✔ 11f ✔ 12a ✔ 12b ✔ 13 ✔ 14a ✔ 14b ✔ 15 ✔ 16 ✔ 17 ✔ 18 ✔ 19 ✔ Form 990 (2017) 5/13/2019 8:13:38 AM 3 2017 Return Trustees of Dartmouth College 02-0222111 Page 4 Form 990 (2017) Part IV Checklist of Required Schedules (continued) Yes 20 a Did the organization operate one or more hospital facilities? If “Yes,” complete Schedule H . . . . . . b If “Yes” to line 20a, did the organization attach a copy of its audited financial statements to this return? . 21 Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government on Part IX, column (A), line 1? If “Yes,” complete Schedule I, Parts I and II . . . . 22 Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals on Part IX, column (A), line 2? If “Yes,” complete Schedule I, Parts I and III . . . . . . . . . . . . 23 Did the organization answer “Yes” to Part VII, Section A, line 3, 4, or 5 about compensation of the organization’s current and former officers, directors, trustees, key employees, and highest compensated employees? If “Yes,” complete Schedule J . . . . . . . . . . . . . . . . . . . . . . 24a Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002? If “Yes,” answer lines 24b through 24d and complete Schedule K. If “No,” go to line 25a . . . . . . . . . . . . . . . b Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception? . . c Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds? . . . . . . . . . . . . . . . . . . . . . . . . d Did the organization act as an “on behalf of” issuer for bonds outstanding at any time during the year? . . 25a Section 501(c)(3), 501(c)(4), and 501(c)(29) organizations. Did the organization engage in an excess benefit transaction with a disqualified person during the year? If “Yes,” complete Schedule L, Part I . . . . . b Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization’s prior Forms 990 or 990-EZ? If “Yes,” complete Schedule L, Part I . . . . . . . . . . . . . . . . . . . . . . . . 26 27 28 Did the organization report any amount on Part X, line 5, 6, or 22 for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons? If “Yes,” complete Schedule L, Part II . . . . . . . . . . . . . . . . Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons? If “Yes,” complete Schedule L, Part III . . . . . . . Was the organization a party to a business transaction with one of the following parties (see Schedule L, Part IV instructions for applicable filing thresholds, conditions, and exceptions): a A current or former officer, director, trustee, or key employee? If “Yes,” complete Schedule L, Part IV . . b A family member of a current or former officer, director, trustee, or key employee? If “Yes,” complete Schedule L, Part IV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . c An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner? If “Yes,” complete Schedule L, Part IV . . . 29 30 31 32 33 34 Did the organization receive more than $25,000 in non-cash contributions? If “Yes,” complete Schedule M Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions? If “Yes,” complete Schedule M . . . . . . . . . . . . . . . . Did the organization liquidate, terminate, or dissolve and cease operations? If “Yes,” complete Schedule N, Part I . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets? If “Yes,” complete Schedule N, Part II . . . . . . . . . . . . . . . . . . . . . . . . . . Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3? If “Yes,” complete Schedule R, Part I . . . . . . . . . . . Was the organization related to any tax-exempt or taxable entity? If “Yes,” complete Schedule R, Part II, III, or IV, and Part V, line 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35a Did the organization have a controlled entity within the meaning of section 512(b)(13)? . . . . . . . b If “Yes” to line 35a, did the organization receive any payment from or engage in any transaction with a controlled entity within the meaning of section 512(b)(13)? If “Yes,” complete Schedule R, Part V, line 2 . . 36 Section 501(c)(3) organizations. Did the organization make any transfers to an exempt non-charitable related organization? If “Yes,” complete Schedule R, Part V, line 2 . . . . . . . . . . . . . . 37 38 Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes? If “Yes,” complete Schedule R, Part VI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Did the organization complete Schedule O and provide explanations in Schedule O for Part VI, lines 11b and 19? Note. All Form 990 filers are required to complete Schedule O. 20a 20b No ✔ 21 ✔ 22 ✔ 23 ✔ 24a ✔ 24b ✔ 24c 24d ✔ ✔ 25a ✔ 25b ✔ 26 ✔ 27 ✔ 28a ✔ 28b ✔ 28c ✔ 29 ✔ 30 ✔ 31 ✔ 32 ✔ 33 ✔ 34 ✔ 35a ✔ 35b ✔ 36 ✔ ✔ 37 38 ✔ Form 990 (2017) 5/13/2019 8:13:38 AM 4 2017 Return Trustees of Dartmouth College 02-0222111 Page 5 Form 990 (2017) Part V Statements Regarding Other IRS Filings and Tax Compliance Check if Schedule O contains a response or note to any line in this Part V . . . . . . . . . . . . . Yes 1a Enter the number reported in Box 3 of Form 1096. Enter -0- if not applicable 2,622 . . . . 1a 0 b Enter the number of Forms W-2G included in line 1a. Enter -0- if not applicable . . . . 1b c Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners? . . . . . . . . . . . . . . . . . 2a Enter the number of employees reported on Form W-3, Transmittal of Wage and Tax 10,253 Statements, filed for the calendar year ending with or within the year covered by this return 2a b If at least one is reported on line 2a, did the organization file all required federal employment tax returns? . Note. If the sum of lines 1a and 2a is greater than 250, you may be required to e-file (see instructions) . . 3a Did the organization have unrelated business gross income of $1,000 or more during the year? . . . . b If “Yes,” has it filed a Form 990-T for this year? If “No” to line 3b, provide an explanation in Schedule O . . 4a At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b If “Yes,” enter the name of the foreign country: ▶ FR, GM, IT, NZ, SP, UK See instructions for filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR). 5a Was the organization a party to a prohibited tax shelter transaction at any time during the tax year? . . . b Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction? c If “Yes” to line 5a or 5b, did the organization file Form 8886-T? . . . . . . . . . . . . . . . 6a Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions? . . . . . b If “Yes,” did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible? . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Organizations that may receive deductible contributions under section 170(c). a Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor? . . . . . . . . . . . . . . . . . . . . . . . . b If “Yes,” did the organization notify the donor of the value of the goods or services provided? . . . . . c Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282? . . . . . . . . . . . . . . . . . . . . . . . . . . . d e f g h 8 9 a b 10 a b 11 a b 12a b 13 a b 1 If “Yes,” indicate the number of Forms 8282 filed during the year . . . . . . . . 7d Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract? Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract? . If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required? If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C? Sponsoring organizations maintaining donor advised funds. Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year? . . . . . . . . Sponsoring organizations maintaining donor advised funds. Did the sponsoring organization make any taxable distributions under section 4966? . . . . . . . . Did the sponsoring organization make a distribution to a donor, donor advisor, or related person? . . . Section 501(c)(7) organizations. Enter: Initiation fees and capital contributions included on Part VIII, line 12 . . . . . . . 10a Gross receipts, included on Form 990, Part VIII, line 12, for public use of club facilities . 10b Section 501(c)(12) organizations. Enter: 11a Gross income from members or shareholders . . . . . . . . . . . . . . . Gross income from other sources (Do not net amounts due or paid to other sources against amounts due or received from them.) . . . . . . . . . . . . . . . 11b Section 4947(a)(1) non-exempt charitable trusts. Is the organization filing Form 990 in lieu of Form 1041? If “Yes,” enter the amount of tax-exempt interest received or accrued during the year . . 12b Section 501(c)(29) qualified nonprofit health insurance issuers. Is the organization licensed to issue qualified health plans in more than one state? . . . . . . . . Note. See the instructions for additional information the organization must report on Schedule O. Enter the amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans . . . . . . . . . . 13b c Enter the amount of reserves on hand . . . . . . . . . . . . . . . . . 13c 14a Did the organization receive any payments for indoor tanning services during the tax year? . . . . . b If “Yes,” has it filed a Form 720 to report these payments? If “No,” provide an explanation in Schedule O . . 1c ✔ 2b ✔ 3a 3b ✔ ✔ 4a ✔ No 5a 5b 5c ✔ ✔ 6a ✔ 6b 7a 7b ✔ ✔ 7c ✔ 7e 7f 7g 7h ✔ ✔ 8 ✔ 9a 9b ✔ ✔ 12a 13a 14a 14b ✔ Form 990 (2017) 5/13/2019 8:13:38 AM 5 2017 Return Trustees of Dartmouth College 02-0222111 Page 6 Governance, Management, and Disclosure For each “Yes” response to lines 2 through 7b below, and for a “No” response to line 8a, 8b, or 10b below, describe the circumstances, processes, or changes in Schedule O. See instructions. Form 990 (2017) Part VI Check if Schedule O contains a response or note to any line in this Part VI . . . . . . . . . . . . . ✔ Section A. Governing Body and Management Yes 1a Enter the number of voting members of the governing body at the end of the tax year . . If there are material differences in voting rights among members of the governing body, or if the governing body delegated broad authority to an executive committee or similar committee, explain in Schedule O. 1a No 22 20 b Enter the number of voting members included in line 1a, above, who are independent . 1b 2 Did any officer, director, trustee, or key employee have a family relationship or a business relationship with any other officer, director, trustee, or key employee? . . . . . . . . . . . . . . . . . . 3 Did the organization delegate control over management duties customarily performed by or under the direct supervision of officers, directors, or trustees, or key employees to a management company or other person? . 2 ✔ 3 4 5 6 ✔ ✔ ✔ ✔ 7a ✔ 7b ✔ 4 5 6 7a Did the organization make any significant changes to its governing documents since the prior Form 990 was filed? Did the organization become aware during the year of a significant diversion of the organization’s assets? . Did the organization have members or stockholders? . . . . . . . . . . . . . . . . . . Did the organization have members, stockholders, or other persons who had the power to elect or appoint one or more members of the governing body? . . . . . . . . . . . . . . . . . . . . b Are any governance decisions of the organization reserved to (or subject to approval by) members, stockholders, or persons other than the governing body? . . . . . . . . . . . . . . . . . 8 Did the organization contemporaneously document the meetings held or written actions undertaken during the year by the following: a The governing body? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b Each committee with authority to act on behalf of the governing body? . . . . . . . . . . . . 9 Is there any officer, director, trustee, or key employee listed in Part VII, Section A, who cannot be reached at the organization’s mailing address? If “Yes,” provide the names and addresses in Schedule O . . . . . 8a 8b ✔ ✔ 9 ✔ Section B. Policies (This Section B requests information about policies not required by the Internal Revenue Code.) Yes 10a Did the organization have local chapters, branches, or affiliates? . . . . . . . . . . . . . . b If “Yes,” did the organization have written policies and procedures governing the activities of such chapters, affiliates, and branches to ensure their operations are consistent with the organization's exempt purposes? 11a Has the organization provided a complete copy of this Form 990 to all members of its governing body before filing the form? b Describe in Schedule O the process, if any, used by the organization to review this Form 990. 12a Did the organization have a written conflict of interest policy? If “No,” go to line 13 . . . . . . . . b Were officers, directors, or trustees, and key employees required to disclose annually interests that could give rise to conflicts? c Did the organization regularly and consistently monitor and enforce compliance with the policy? If “Yes,” describe in Schedule O how this was done . . . . . . . . . . . . . . . . . . . . . . 13 Did the organization have a written whistleblower policy? . . . . . . . . . . . . . . . . . 14 Did the organization have a written document retention and destruction policy? . . . . . . . . . 15 Did the process for determining compensation of the following persons include a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision? a The organization’s CEO, Executive Director, or top management official . . . . . . . . b Other officers or key employees of the organization . . . . . . . . . . . . . . . If “Yes” to line 15a or 15b, describe the process in Schedule O (see instructions). 16a Did the organization invest in, contribute assets to, or participate in a joint venture or similar with a taxable entity during the year? . . . . . . . . . . . . . . . . . . . . . . . . . . . . No 10a ✔ 10b ✔ 11a ✔ 12a ✔ 12b ✔ 12c ✔ 13 ✔ 14 ✔ 15a ✔ 15b ✔ arrangement . . . . 16a b If “Yes,” did the organization follow a written policy or procedure requiring the organization to evaluate its participation in joint venture arrangements under applicable federal tax law, and take steps to safeguard the organization’s exempt status with respect to such arrangements? . . . . . . . . . . . . . . 16b ✔ Section C. Disclosure 17 18 List the states with which a copy of this Form 990 is required to be filed ▶ CA, MA, NH, NY, OK Section 6104 requires an organization to make its Forms 1023 (or 1024 if applicable), 990, and 990-T (Section 501(c)(3)s only) available for public inspection. Indicate how you made these available. Check all that apply. 19 ✔ Upon request Own website Another’s website Other (explain in Schedule O) Describe in Schedule O whether (and if so, how) the organization made its governing documents, conflict of interest policy, and financial statements available to the public during the tax year. 20 State the name, address, and telephone number of the person who possesses the organization's books and records: ▶ CONTROLLER'S OFFICER, 7 LEBANON STREET, SUITE 302, HANOVER, NH 03755, (603) 646-3011, FAX: (603) 646-3598 Form 990 (2017) 5/13/2019 8:13:38 AM 6 2017 Return Trustees of Dartmouth College 02-0222111 Page 7 Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors Form 990 (2017) Part VII Check if Schedule O contains a response or note to any line in this Part VII . . . . . . . . . . . . . Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees 1a Complete this table for all persons required to be listed. Report compensation for the calendar year ending with or within the organization’s tax year. • List all of the organization’s current officers, directors, trustees (whether individuals or organizations), regardless of amount of compensation. Enter -0- in columns (D), (E), and (F) if no compensation was paid. • List all of the organization’s current key employees, if any. See instructions for definition of “key employee.” • List the organization’s five current highest compensated employees (other than an officer, director, trustee, or key employee) who received reportable compensation (Box 5 of Form W-2 and/or Box 7 of Form 1099-MISC) of more than $100,000 from the organization and any related organizations. • List all of the organization’s former officers, key employees, and highest compensated employees who received more than $100,000 of reportable compensation from the organization and any related organizations. • List all of the organization’s former directors or trustees that received, in the capacity as a former director or trustee of the organization, more than $10,000 of reportable compensation from the organization and any related organizations. List persons in the following order: individual trustees or directors; institutional trustees; officers; key employees; highest compensated employees; and former such persons. Check this box if neither the organization nor any related organization compensated any current officer, director, or trustee. (C) (D) (E) (F) Former Reportable Reportable compensation compensation from from related the organizations organization (W-2/1099-MISC) (W-2/1099-MISC) Estimated amount of other compensation from the organization and related organizations 40.0 ✔ ✔ 1,183,709 0 247,632 ✔ 0 0 0 ✔ 0 0 0 ✔ 0 0 0 ✔ 0 0 0 ✔ 0 0 0 ✔ 0 0 0 ✔ 0 0 0 ✔ 0 0 0 ✔ 0 0 0 ✔ 0 0 0 ✔ 0 0 0 ✔ 0 0 0 ✔ 0 0 3.0 3.0 3.0 TRUSTEE (5) R. WILLIAM BURGESS, JR. TRUSTEE 3.0 (6) JAMES COULTER 3.0 TRUSTEE (7) GREGG ENGLES TRUSTEE (8) ELIZABETH FASCITELLI TRUSTEE (9) NATHANIEL FICK TRUSTEE (10) ANNETTE GORDON-REED TRUSTEE (11) DAVID HODGSON TRUSTEE (12) JAMES JACKSON TRUSTEE (13) S. CAROLINE KERR TRUSTEE (14) RICHARD KIMBALL TRUSTEE Highest compensated employee (1) PHILIP HANLON PRESIDENT (2) EMILY BAKEMEIER TRUSTEE (3) JEFFREY BLACKBURN TRUSTEE (4) GAIL BOUDREAUX Key employee Average hours per week (list any hours for related organizations below dotted line) Officer Name and Title Position (do not check more than one box, unless person is both an officer and a director/trustee) Institutional trustee (B) Individual trustee or director (A) 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 0 Form 990 (2017) 5/13/2019 8:13:38 AM 7 2017 Return Trustees of Dartmouth College 02-0222111 Page 8 Form 990 (2017) Part VII Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees (continued) (C) Former Highest compensated employee (15) MORTON KONDRAKE Key employee Average hours per week (list any hours for related organizations below dotted line) Officer Name and title Position (do not check more than one box, unless person is both an officer and a director/trustee) Institutional trustee (B) Individual trustee or director (A) (D) (E) (F) Reportable Reportable compensation compensation from from related the organizations organization (W-2/1099-MISC) (W-2/1099-MISC) Estimated amount of other compensation from the organization and related organizations 3.0 TRUSTEE (16) MITCHELL KURZ TRUSTEE (17) RICHARD LEWIS TRUSTEE (18) ELIZABETH LOUGHLIN TRUSTEE ✔ 0 0 0 ✔ 0 0 0 ✔ 0 0 0 ✔ 0 0 0 ✔ 0 0 0 ✔ 0 0 0 ✔ 0 0 0 ✔ 0 0 0 ✔ 0 0 0 ✔ 0 0 0 3.0 3.0 3.0 (19) GREGORY MAFFEI 3.0 TRUSTEE (20) JOHN REPLOGLE 3.0 TRUSTEE (21) LAUREL RICHIE 5.0 TRUSTEE (22) CARLOS RODRIGUEZ-PASTOR, JR. 3.0 TRUSTEE (23) ERICA SCHULTZ 3.0 TRUSTEE (24) CHRISTOPHER SUNUNU 3.0 TRUSTEE (25) (SEE STATEMENT) 1b c d 2 1,183,709 0 Sub-total . . . . . . . . . . . . . . . . . . . . . ▶ 12,289,064 0 Total from continuation sheets to Part VII, Section A . . . . . ▶ 13,472,773 0 Total (add lines 1b and 1c) . . . . . . . . . . . . . . . ▶ Total number of individuals (including but not limited to those listed above) who received more than $100,000 of reportable compensation from the organization ▶ 976 3 Did the organization list any former officer, director, or trustee, key employee, or highest compensated employee on line 1a? If “Yes,” complete Schedule J for such individual . . . . . . . . . . . . 4 For any individual listed on line 1a, is the sum of reportable compensation and other compensation from the organization and related organizations greater than $150,000? If “Yes,” complete Schedule J for such individual . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Did any person listed on line 1a receive or accrue compensation from any unrelated organization or individual for services rendered to the organization? If “Yes,” complete Schedule J for such person . . . . . . 247,632 754,363 1,001,995 Yes 5 3 ✔ 4 ✔ No ✔ 5 Section B. Independent Contractors 1 Complete this table for your five highest compensated independent contractors that received more than $100,000 of compensation from the organization. Report compensation for the calendar year ending with or within the organization's tax year. (A) Name and business address (B) Description of services DARTMOUTH HITCHCOCK MEDICAL CENTER, ONE MEDICAL CENTER DRIVE, LEBANON, NH 03756 MEDICAL RESEARCH DANIEL O'CONNELL'S SONS INC, 800 KELLY WAY, HOLYOKE, MA 01040 ENGELBERTH CONSTRUCTION, INC., 428 MAIN STREET, KEENE, NH 03431 CONSTRUCTION AND CONTRACTING SERVICES DEW CONSTRUCTION, 277 BLAIR PARK ROAD, STE 130, WILLISTON, VT 05495 CONSTRUCTION AND CONTRACTING SERVICES NORTH BRANCH CONSTRUCTION, INC., 76 OLD TURNPIKE ROAD, CONCORD, NH 03301 CONSTRUCTION AND CONTRACTING SERVICES 2 CONSTRUCTION AND CONTRACTING SERVICES (C) Compensation 18,765,324 15,760,878 8,065,609 6,722,868 6,079,168 Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization ▶ 152 Form 990 (2017) 5/13/2019 8:13:38 AM 8 2017 Return Trustees of Dartmouth College 02-0222111 Page 9 Form 990 (2017) Part VIII Statement of Revenue Check if Schedule O contains a response or note to any line in this Part VIII . . . . . . . . . . . . . Program Service Revenue Contributions, Gifts, Grants and Other Similar Amounts (A) Total revenue 1a b c d e f 1a 1b 1c 1d 1e Federated campaigns . . . Membership dues . . . . Fundraising events . . . . Related organizations . . . Government grants (contributions) All other contributions, gifts, grants, and similar amounts not included above (C) Unrelated business revenue (D) Revenue excluded from tax under sections 512-514 61,400 131,943,596 1f g Noncash contributions included in lines 1a-1f: $ h Total. Add lines 1a–1f . . . . . . 272,605,914 62,807,186 . . . ▶ 404,610,910 Business Code 611600 2a TUITION AND FEES 611710 b AUXILIARY SERVICE 611600 c MEDICAL RELATED 611600 d OTHER EDUCATION RELATED 611600 e ALL OTHER f All other program service revenue . g Total. Add lines 2a–2f . . . . . . . . . ▶ 3 Investment income (including dividends, interest, and other similar amounts) . . . . . . . ▶ 4 5 Income from investment of tax-exempt bond proceeds ▶ Royalties . . . . . . . . . . . . . ▶ (i) Real 15,570,361 Gross rents . . 10,193,555 Less: rental expenses 5,376,806 Rental income or (loss) Net rental income or (loss) . . . . (i) Securities Gross amount from sales of assets other than inventory 4,847,289,846 b Less: cost or other basis and sales expenses . 4,427,914,076 c Gain or (loss) . . d Net gain or (loss) 8a b c 9a b c 10a b c . . . 387,825,080 75,778,061 14,600,658 15,404,674 19,977,542 0 519,360,557 19,616,977 0 56,377,273 5,774,542 360,565 0 0 9,737,097 46,640,176 5,716,091 5,716,091 0 . . . . . . ▶ 145,194 5,231,612 419,384,813 37,750,762 381,634,051 9,043 0 9,043 . . . ▶ Gross income from fundraising events (not including $ 61,400 of contributions reported on line 1c). See Part IV, line 18 . . . . . a 187,923 84,325 Less: direct expenses . . . . b Net income or (loss) from fundraising events . ▶ Gross income from gaming activities. See Part IV, line 19 . . . . . a Less: direct expenses . . . . b Net income or (loss) from gaming activities . . ▶ Gross sales of inventory, less returns and allowances . . . a Less: cost of goods sold . . . b Net income or (loss) from sales of inventory . . ▶ 103,598 103,598 525920 18,255,645 18,255,645 900099 6,336,594 6,336,594 Business Code Miscellaneous Revenue 11a SPLIT INTEREST & OTHER CHANGES b OTHER REVENUE c d All other revenue . . . . . e Total. Add lines 11a–11d . . . . 12 Total revenue. See instructions. . 5,376,806 (ii) Other 419,375,770 . 387,825,080 81,552,603 14,600,658 15,404,674 (ii) Personal 6a b c d 7a Other Revenue (B) Related or exempt function revenue . . . . . . . . 0 24,592,239 0 0 ▶ ▶ 1,435,522,287 513,225,450 53,768,160 0 463,917,767 Form 990 (2017) 5/13/2019 8:13:38 AM 9 2017 Return Trustees of Dartmouth College 02-0222111 Page 10 Form 990 (2017) Part IX Statement of Functional Expenses Section 501(c)(3) and 501(c)(4) organizations must complete all columns. All other organizations must complete column (A). Check if Schedule O contains a response or note to any line in this Part IX . . . . . . . . . . . . . Do not include amounts reported on lines 6b, 7b, 8b, 9b, and 10b of Part VIII. 1 2 (A) Total expenses Grants and other assistance to domestic organizations and domestic governments. See Part IV, line 21 . . Grants and other assistance to domestic individuals. See Part IV, line 22 . . . . . 3 Grants and other assistance to foreign organizations, foreign governments, and foreign individuals. See Part IV, lines 15 and 16 . . . 4 5 Benefits paid to or for members . . . . Compensation of current officers, directors, trustees, and key employees . . . . . 6 Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) . . 7 8 Other salaries and wages . . . . . . Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) 9 10 11 Other employee benefits . . . . . . . Payroll taxes . . . . . . . . . . . Fees for services (non-employees): a Management . . . . . . . . . . b Legal . . . . . . . . . . . . . c Accounting . . . . . . . . . . . d Lobbying . . . . . . . . . . . . e Professional fundraising services. See Part IV, line 17 f Investment management fees . . . . . g Other. (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O.) . . 12 13 14 15 16 17 18 Advertising and promotion . . . . . . Office expenses . . . . . . . . . Information technology . . . . . . . Royalties . . . . . . . . . . . . Occupancy . . . . . . . . . . . Travel . . . . . . . . . . . . . Payments of travel or entertainment expenses for any federal, state, or local public officials 19 20 21 22 23 24 Conferences, conventions, and meetings . Interest . . . . . . . . . . . . Payments to affiliates . . . . . . . . Depreciation, depletion, and amortization . Insurance . . . . . . . . . . . . Other expenses. Itemize expenses not covered above (List miscellaneous expenses in line 24e. If line 24e amount exceeds 10% of line 25, column (A) amount, list line 24e expenses on Schedule O.) a OTHER EXPENSES b PURCHASE FOR RESALE c BOOKS & MEDIA d UBI TAX EXPENSES e All other expenses Total functional expenses. Add lines 1 through 24e 25 Joint costs. Complete this line only if the 26 organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation. Check here ▶ if following SOP 98-2 (ASC 958-720) . . . . (B) Program service expenses (C) Management and general expenses (D) Fundraising expenses 603,407 603,407 171,138,168 171,138,168 4,247,620 0 4,247,620 0 9,877,045 2,493,773 6,741,802 641,470 1,889,041 436,271,442 1,457,651 359,754,221 3,416 48,738,551 427,974 27,778,670 26,315,475 7,469,664 25,001,729 21,563,944 6,069,907 20,302,590 3,160,248 940,611 3,162,099 1,591,283 459,146 1,537,040 636,548 2,930,566 847,209 21,194 357,774 5,218,759 636,548 24,457 18,040 0 0 2,906,109 829,169 21,194 0 5,218,759 0 0 0 0 357,774 0 104,144,670 2,031,943 18,335,862 17,009,726 528,236 42,356,354 30,168,850 94,103,176 1,722,860 15,750,592 6,609,806 524,296 38,742,333 25,865,158 3,203,835 78,108 547,282 9,903,792 1,605 2,953,534 1,582,956 6,837,659 230,975 2,037,988 496,128 2,335 660,487 2,720,736 0 2,479,138 40,328,308 0 66,368,246 1,385,530 0 2,206,627 38,384,604 0 61,374,217 598,548 0 163,621 1,888,906 0 4,602,679 765,501 0 108,890 54,798 0 391,350 21,481 35,430,196 18,455,107 13,834,894 5,737,104 0 1,091,419,805 29,705,437 18,345,292 13,619,110 4,666,482 0 940,528,864 3,858,052 108,735 123,554 1,062,272 0 102,566,390 1,866,707 1,080 92,230 8,350 0 48,324,551 Form 990 (2017) 5/13/2019 8:13:38 AM 10 2017 Return Trustees of Dartmouth College 02-0222111 Page 11 Form 990 (2017) Part X Balance Sheet Check if Schedule O contains a response or note to any line in this Part X . . . . . . . . . . . . . Net Assets or Fund Balances Liabilities Assets (A) Beginning of year 1 2 3 4 5 Cash—non-interest-bearing . . . . . . . . . . . . . . Savings and temporary cash investments . . . . . . . . . . Pledges and grants receivable, net . . . . . . . . . . . . Accounts receivable, net . . . . . . . . . . . . . . . Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees. Complete Part II of Schedule L . . . . . . . . . . . . . 6 Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations (see instructions). Complete Part II of Schedule L . . . . . . 7 8 9 10a b 11 12 13 14 15 16 17 18 19 20 21 22 Notes and loans receivable, net . . . . . Inventories for sale or use . . . . . . . Prepaid expenses and deferred charges . . Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D . . . . . . . . . . . . . . . . . . . . . . . . 1,930,577,771 10a 962,891,233 Less: accumulated depreciation . . . . 10b Investments—publicly traded securities . . . . . . . . . . Investments—other securities. See Part IV, line 11 . . . . . . . Investments—program-related. See Part IV, line 11 . . . . . . . Intangible assets . . . . . . . . . . . . . . . . . . Other assets. See Part IV, line 11 . . . . . . . . . . . . . Total assets. Add lines 1 through 15 (must equal line 34) . . . . . Accounts payable and accrued expenses . . . . . . . . . . Grants payable . . . . . . . . . . . . . . . . . . . Deferred revenue . . . . . . . . . . . . . . . . . . Tax-exempt bond liabilities . . . . . . . . . . . . . . . Escrow or custodial account liability. Complete Part IV of Schedule D . Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons. Complete Part II of Schedule L . . . . . . Capital stock or trust principal, or current funds . . . . . . . Paid-in or capital surplus, or land, building, or equipment fund . . Retained earnings, endowment, accumulated income, or other funds Total net assets or fund balances . . . . . . . . . . . . Total liabilities and net assets/fund balances . . . . . . . . 5/13/2019 8:13:38 AM 11 5 0 0 79,965,763 2,146,389 18,249,942 6 7 8 9 0 76,280,551 2,115,851 15,373,304 967,639,285 10c 1,574,648,959 11 4,712,483,604 12 0 13 2,750,248 14 60,884,272 15 7,882,975,225 16 88,393,332 17 0 18 39,974,812 19 535,997,287 20 52,714,859 21 967,686,538 1,154,739,950 5,404,458,326 0 2,558,542 46,183,082 8,275,901,513 84,930,569 0 48,011,394 521,744,999 51,637,099 25 26 601,579,119 1,832,601,196 . . . and 1,314,664,854 2,986,933,742 1,402,330,338 27 28 29 1,509,381,721 3,384,691,197 1,549,227,399 . . . . . 30 31 32 5,703,928,934 33 7,882,975,225 34 6,443,300,317 8,275,901,513 . and ✔ 30 31 32 33 34 0 787,435,859 2,179,046,291 Total liabilities. Add lines 17 through 25 . . . . . . . . Organizations that follow SFAS 117 (ASC 958), check here ▶ complete lines 27 through 29, and lines 33 and 34. . . . 10,226,919 192,861,424 370,648,355 32,768,671 0 24,698,016 500,000,000 26 Unrestricted net assets . . . . . . . . . . . . . . Temporarily restricted net assets . . . . . . . . . . . Permanently restricted net assets . . . . . . . . . . . Organizations that do not follow SFAS 117 (ASC 958), check here ▶ complete lines 30 through 34. 1 2 3 4 22 23 24 Secured mortgages and notes payable to unrelated third parties . . Unsecured notes and loans payable to unrelated third parties . . . Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17-24). Complete Part X of Schedule D . . . . . . . . . . . . . . . . . . . 27 28 29 6,900,366 168,152,498 264,863,534 24,290,365 0 26,387,164 648,142,978 23 24 25 . (B) End of year 2017 Return Form 990 (2017) Trustees of Dartmouth College 02-0222111 Page 12 Form 990 (2017) Part XI Reconciliation of Net Assets Check if Schedule O contains a response or note to any line in this Part XI . . . . . . . . . . . . . 1 2 3 4 5 6 7 8 9 10 Total revenue (must equal Part VIII, column (A), line 12) . . . . . . . . . . . . Total expenses (must equal Part IX, column (A), line 25) . . . . . . . . . . . Revenue less expenses. Subtract line 2 from line 1 . . . . . . . . . . . . . Net assets or fund balances at beginning of year (must equal Part X, line 33, column (A)) . Net unrealized gains (losses) on investments . . . . . . . . . . . . . . . Donated services and use of facilities . . . . . . . . . . . . . . . . . Investment expenses . . . . . . . . . . . . . . . . . . . . . . . Prior period adjustments . . . . . . . . . . . . . . . . . . . . . . Other changes in net assets or fund balances (explain in Schedule O) . . . . . . . Net assets or fund balances at end of year. Combine lines 3 through 9 (must equal Part 33, column (B)) . . . . . . . . . . . . . . . . . . . . . . . . . Part XII . . . . . . . . . X, . . . . . . . . . . line . ✔ 1 2 3 4 5 6 7 8 9 1,435,522,287 1,091,419,805 344,102,482 5,703,928,934 182,784,576 0 0 0 212,484,325 10 6,443,300,317 Financial Statements and Reporting Check if Schedule O contains a response or note to any line in this Part XII . . . . . . . . . . . . . Yes 1 Accounting method used to prepare the Form 990: Cash ✔ Accrual Other If the organization changed its method of accounting from a prior year or checked “Other,” explain in Schedule O. 2a Were the organization’s financial statements compiled or reviewed by an independent accountant? . . . If “Yes,” check a box below to indicate whether the financial statements for the year were compiled or reviewed on a separate basis, consolidated basis, or both: Separate basis Consolidated basis Both consolidated and separate basis b Were the organization’s financial statements audited by an independent accountant? . . . . . . . If “Yes,” check a box below to indicate whether the financial statements for the year were audited on a separate basis, consolidated basis, or both: ✔ Consolidated basis Separate basis Both consolidated and separate basis c If “Yes” to line 2a or 2b, does the organization have a committee that assumes responsibility for oversight of the audit, review, or compilation of its financial statements and selection of an independent accountant? If the organization changed either its oversight process or selection process during the tax year, explain in Schedule O. 3a As a result of a federal award, was the organization required to undergo an audit or audits as set forth in the Single Audit Act and OMB Circular A-133? . . . . . . . . . . . . . . . . . . . . . b If “Yes,” did the organization undergo the required audit or audits? If the organization did not undergo the required audit or audits, explain why in Schedule O and describe any steps taken to undergo such audits. 2a No ✔ 2b ✔ 2c ✔ 3a ✔ 3b ✔ Form 990 (2017) 5/13/2019 8:13:38 AM 12 2017 Return Trustees of Dartmouth College 02-0222111 Part VII Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees (continued) (A) Name and Title (B) Average hours per week Former Highest compensated employee Key employee Officer 5/13/2019 8:13:38 AM Institutional trustee PEGGY EPSTEIN TANNER ---------------------------------------------------TRUSTEE (26) BENJAMIN WILSON ---------------------------------------------------TRUSTEE (27) CAROLYN DEVER ---------------------------------------------------PROVOST (THROUGH 11/2017) (28) DAVID KOTZ ---------------------------------------------------INTERIM PROVOST (FROM 11/2017) (29) RICHARD MILLS ---------------------------------------------------EVP (30) MICHAEL WAGNER ---------------------------------------------------CFO (31) DUANE COMPTON ---------------------------------------------------DEAN, GEISEL (32) SANDHYA IYER ---------------------------------------------------GENERAL COUNSEL (FROM 7/2017) (33) ROBERT LASHER ---------------------------------------------------SR VP FOR ADVANCEMENT (34) ELIZABETH SMITH ---------------------------------------------------DEAN OF FACULTY (FROM 7/2017) (35) ALICE RUTH ---------------------------------------------------CHIEF INVEST OFFICER (FROM 4/2017) (36) MATTHEW SLAUGHTER ---------------------------------------------------DEAN, TUCK SCHOOL OF BUSINESS (37) STEVEN MOORE ---------------------------------------------------INTERIM VP CAMPUS SERVICES (38) ALAN GREEN ---------------------------------------------------CHAIR, DEPARTMENT OF PSYCHOLOGY (39) KELSEY MORGAN ---------------------------------------------------DEP CHIEF INVESTMENT OFFICER (40) MEGAN HAMMOND ---------------------------------------------------MNG DIRECTOR, INVESTMENT OFFICE (41) MICHAEL SULLIVAN ---------------------------------------------------MNG DIRECTOR, INVESTMENT OFFICE (42) ANAND DESAI ---------------------------------------------------MNG DIRECTOR, INVESTMENT OFFICE (25) (C) Position (Check all that apply) Individual trustee or director (list any hours for related organizations below dotted line) (D) Reportable compensation from the organization (E) Reportable compensation from related organizations (W-2/1099-MISC) (W-2/1099-MISC) (F) Estimated amount of other compensation from the organization and related organizations 3.0 ------------------------- 0 0 0 3.0 ------------------------- 0 0 0 40.0 ------------------------- 747,395 0 56,844 40.0 ------------------------- 366,087 0 38,908 671,070 0 38,386 401,006 0 41,791 772,290 0 35,029 40.0 ------------------------- 192,368 0 26,825 40.0 ------------------------- 584,734 0 30,247 40.0 ------------------------- 325,544 0 28,797 40.0 ------------------------- 668,139 0 24,300 40.0 ------------------------- 833,988 0 36,217 39.8 ------------------------0.2 247,800 0 28,681 40.0 ------------------------- 673,372 0 32,423 40.0 ------------------------- 873,824 0 34,562 39.8 ------------------------0.2 773,930 0 41,683 40.0 ------------------------- 766,214 0 39,980 40.0 ------------------------- 676,105 0 24,935 39.9 ------------------------0.1 39.5 ------------------------0.5 40.0 ------------------------- 13 2017 Return Trustees of Dartmouth College 02-0222111 (A) Name and Title (B) Average hours per week Former Highest compensated employee Key employee Officer 5/13/2019 8:13:38 AM Institutional trustee MARTIN WYBOURNE ---------------------------------------------------SR. VP RSRCH; FM INTERIM PROVOST (44) ANN ROOT KEITH ---------------------------------------------------COO ADV; FMR INTERIM VP DEV (45) WILEY SOUBA ---------------------------------------------------PROF & FMR DEAN, GEISEL (46) PAMELA PEEDIN ---------------------------------------------------FMR CIO (THRU 03/2017) (47) MICHAEL MASTANDUNO ---------------------------------------------------FMR DEAN OF FAC (THRU 06/2017) (48) ROBERT DONIN ---------------------------------------------------FMR GENERAL COUNSEL (THRU 06/2017) (43) Individual trustee or director (list any hours for related organizations below dotted line) (C) Position (Check all that apply) (D) Reportable compensation from the organization (E) Reportable compensation from related organizations (W-2/1099-MISC) (W-2/1099-MISC) (F) Estimated amount of other compensation from the organization and related organizations 40.0 ------------------------- 390,784 0 33,765 40.0 ------------------------- 304,654 0 37,246 40.0 ------------------------- 381,938 0 36,020 40.0 ------------------------- 902,195 0 19,888 40.0 ------------------------- 393,862 0 40,341 40.0 ------------------------- 341,765 0 27,495 14 2017 Return Trustees of Dartmouth College 02-0222111 SCHEDULE A (Form 990 or 990-EZ) Department of the Treasury Internal Revenue Service 2017 Complete if the organization is a section 501(c)(3) organization or a section 4947(a)(1) nonexempt charitable trust. a Attach to Form 990 or Form 990-EZ. a Go to www.irs.gov/Form990 for instructions and the latest information. Name of the organization Open to Public Inspection Employer identification number TRUSTEES OF DARTMOUTH COLLEGE Part I OMB No. 1545-0047 Public Charity Status and Public Support 02-0222111 Reason for Public Charity Status (All organizations must complete this part.) See instructions. The organization is not a private foundation because it is: (For lines 1 through 12, check only one box.) 1 A church, convention of churches, or association of churches described in section 170(b)(1)(A)(i). 2 ✔ A school described in section 170(b)(1)(A)(ii). (Attach Schedule E (Form 990 or 990-EZ).) A hospital or a cooperative hospital service organization described in section 170(b)(1)(A)(iii). 3 A medical research organization operated in conjunction with a hospital described in section 170(b)(1)(A)(iii). Enter the 4 hospital’s name, city, and state: 5 An organization operated for the benefit of a college or university owned or operated by a governmental unit described in section 170(b)(1)(A)(iv). (Complete Part II.) 6 7 A federal, state, or local government or governmental unit described in section 170(b)(1)(A)(v). An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi). (Complete Part II.) 8 9 A community trust described in section 170(b)(1)(A)(vi). (Complete Part II.) An agricultural research organization described in section 170(b)(1)(A)(ix) operated in conjunction with a land-grant college or university or a non-land-grant college of agriculture (see instructions). Enter the name, city, and state of the college or university: An organization that normally receives: (1) more than 331/3% of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions—subject to certain exceptions, and (2) no more than 331/3% of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975. See section 509(a)(2). (Complete Part III.) An organization organized and operated exclusively to test for public safety. See section 509(a)(4). An organization organized and operated exclusively for the benefit of, to perform the functions of, or to carry out the purposes of one or more publicly supported organizations described in section 509(a)(1) or section 509(a)(2). See section 509(a)(3). Check the box in lines 12a through 12d that describes the type of supporting organization and complete lines 12e, 12f, and 12g. 10 11 12 a Type I. A supporting organization operated, supervised, or controlled by its supported organization(s), typically by giving the supported organization(s) the power to regularly appoint or elect a majority of the directors or trustees of the supporting organization. You must complete Part IV, Sections A and B. b Type II. A supporting organization supervised or controlled in connection with its supported organization(s), by having control or management of the supporting organization vested in the same persons that control or manage the supported organization(s). You must complete Part IV, Sections A and C. Type III functionally integrated. A supporting organization operated in connection with, and functionally integrated with, its supported organization(s) (see instructions). You must complete Part IV, Sections A, D, and E. c d Type III non-functionally integrated. A supporting organization operated in connection with its supported organization(s) that is not functionally integrated. The organization generally must satisfy a distribution requirement and an attentiveness requirement (see instructions). You must complete Part IV, Sections A and D, and Part V. e Check this box if the organization received a written determination from the IRS that it is a Type I, Type II, Type III functionally integrated, or Type III non-functionally integrated supporting organization. f Enter the number of supported organizations . . . . . . . . . . . . . . . . . . . . . . . g Provide the following information about the supported organization(s). (i) Name of supported organization (ii) EIN (iii) Type of organization (described on lines 1–10 above (see instructions)) (iv) Is the organization (v) Amount of monetary listed in your governing support (see document? instructions) Yes (vi) Amount of other support (see instructions) No (A) (B) (C) (D) (E) 0 Total For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ. 5/13/2019 8:13:38 AM 15 Cat. No. 11285F 2017 Return 0 Schedule A (Form 990 or 990-EZ) 2017 Trustees of Dartmouth College 02-0222111 Page 2 Schedule A (Form 990 or 990-EZ) 2017 Part II Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (Complete only if you checked the box on line 5, 7, or 8 of Part I or if the organization failed to qualify under Part III. If the organization fails to qualify under the tests listed below, please complete Part III.) Section A. Public Support Calendar year (or fiscal year beginning in) a 1 Gifts, grants, contributions, and membership fees received. (Do not include any “unusual grants.”) . . . 2 Tax revenues levied for the organization’s benefit and either paid to or expended on its behalf . . . 3 The value of services or facilities furnished by a governmental unit to the organization without charge . . . . 4 Total. Add lines 1 through 3 . 5 The portion of total contributions by each person (other than a governmental unit or publicly supported organization) included on line 1 that exceeds 2% of the amount shown on line 11, column (f) . . . . 6 Public support. Subtract line 5 from line 4 . . . (a) 2013 (b) 2014 (c) 2015 (d) 2016 (e) 2017 (f) Total 328,376,339 376,972,265 389,222,461 351,100,124 404,610,910 1,850,282,099 0 328,376,339 376,972,265 389,222,461 351,100,124 0 404,610,910 1,850,282,099 0 1,850,282,099 Section B. Total Support Calendar year (or fiscal year beginning in) a 7 Amounts from line 4 . . . . . . 8 Gross income from interest, dividends, payments received on securities loans, rents, royalties, and income from similar sources . . . . . . . . (a) 2013 (b) 2014 (c) 2015 (d) 2016 (e) 2017 328,376,339 376,972,265 389,222,461 351,100,124 404,610,910 1,850,282,099 (f) Total 72,389,012 76,467,488 79,292,998 63,393,195 67,473,272 359,015,965 9 Net income from unrelated business activities, whether or not the business is regularly carried on . . . . . 7,751,255 24,132,825 0 0 24,170,021 56,054,101 10 Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.) . . . . . . . 5,368,452 1,845,165 7,652,192 22,819,168 24,695,837 62,380,814 11 12 13 2,327,732,979 Total support. Add lines 7 through 10 Gross receipts from related activities, etc. (see instructions) . . . . . . . . . . . . 2,508,879,515 12 First five years. If the Form 990 is for the organization’s first, second, third, fourth, or fifth tax year as a section 501(c)(3) organization, check this box and stop here . . . . . . . . . . . . . . . . . . . . . . . . . a Section C. Computation of Public Support Percentage 14 15 16a 79.49 % Public support percentage for 2017 (line 6, column (f) divided by line 11, column (f)) . . . . 14 79.53 % 15 Public support percentage from 2016 Schedule A, Part II, line 14 . . . . . . . . . . 331/3% support test—2017. If the organization did not check the box on line 13, and line 14 is 331/3% or more, check this box and stop here. The organization qualifies as a publicly supported organization . . . . . . . . . . . . a ✔ b 331/3% support test—2016. If the organization did not check a box on line 13 or 16a, and line 15 is 331/3% or more, check this box and stop here. The organization qualifies as a publicly supported organization . . . . . . . . . . . a 17a 10%-facts-and-circumstances test—2017. If the organization did not check a box on line 13, 16a, or 16b, and line 14 is 10% or more, and if the organization meets the “facts-and-circumstances” test, check this box and stop here. Explain in Part VI how the organization meets the “facts-and-circumstances” test. The organization qualifies as a publicly supported organization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . a b 10%-facts-and-circumstances test—2016. If the organization did not check a box on line 13, 16a, 16b, or 17a, and line 15 is 10% or more, and if the organization meets the “facts-and-circumstances” test, check this box and stop here. Explain in Part VI how the organization meets the “facts-and-circumstances” test. The organization qualifies as a publicly supported organization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . a 18 Private foundation. If the organization did not check a box on line 13, 16a, 16b, 17a, or 17b, check this box and see instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . a Schedule A (Form 990 or 990-EZ) 2017 5/13/2019 8:13:38 AM 16 2017 Return Trustees of Dartmouth College 02-0222111 Page 3 Schedule A (Form 990 or 990-EZ) 2017 Part III Support Schedule for Organizations Described in Section 509(a)(2) (Complete only if you checked the box on line 10 of Part I or if the organization failed to qualify under Part II. If the organization fails to qualify under the tests listed below, please complete Part II.) Section A. Public Support Calendar year (or fiscal year beginning in) a Gifts, grants, contributions, and membership fees 1 received. (Do not include any “unusual grants.”) 2 Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization’s tax-exempt purpose . . . 3 Gross receipts from activities that are not an unrelated trade or business under section 513 4 Tax revenues levied for the organization’s benefit and either paid to or expended on its behalf . . . . 5 The value of services or facilities furnished by a governmental unit to the organization without charge . . . . 6 7a Total. Add lines 1 through 5 . . . . Amounts included on lines 1, 2, and 3 received from disqualified persons . (a) 2013 (b) 2014 (c) 2015 (d) 2016 (e) 2017 (f) Total (a) 2013 (b) 2014 (c) 2015 (d) 2016 (e) 2017 (f) Total b Amounts included on lines 2 and 3 received from other than disqualified persons that exceed the greater of $5,000 or 1% of the amount on line 13 for the year c 8 Add lines 7a and 7b . . . . . . Public support. (Subtract line 7c from line 6.) . . . . . . . . . . . Section B. Total Support Calendar year (or fiscal year beginning in) a 9 Amounts from line 6 . . . . . . 10a Gross income from interest, dividends, payments received on securities loans, rents, royalties, and income from similar sources . b Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975 . . . . c 11 12 Add lines 10a and 10b . . . . . Net income from unrelated business activities not included in line 10b, whether or not the business is regularly carried on Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.) . . . . . . . Total support. (Add lines 9, 10c, 11, and 12.) . . . . . . . . . . First five years. If the Form 990 is for the organization’s first, second, third, fourth, or fifth tax year as a section 501(c)(3) organization, check this box and stop here . . . . . . . . . . . . . . . . . . . . . . . . . a 13 14 Section C. Computation of Public Support Percentage 15 16 Public support percentage for 2017 (line 8, column (f) divided by line 13, column (f)) Public support percentage from 2016 Schedule A, Part III, line 15 . . . . . . . . . . . . . . . . 15 16 % % Section D. Computation of Investment Income Percentage 17 18 19a Investment income percentage for 2017 (line 10c, column (f) divided by line 13, column (f)) . . . 17 % Investment income percentage from 2016 Schedule A, Part III, line 17 . . . . . . . . . . 18 % 331/3% support tests—2017. If the organization did not check the box on line 14, and line 15 is more than 331/3%, and line 17 is not more than 331/3%, check this box and stop here. The organization qualifies as a publicly supported organization . a b 331/3% support tests—2016. If the organization did not check a box on line 14 or line 19a, and line 16 is more than 331/3%, and line 18 is not more than 331/3%, check this box and stop here. The organization qualifies as a publicly supported organization a 20 Private foundation. If the organization did not check a box on line 14, 19a, or 19b, check this box and see instructions a Schedule A (Form 990 or 990-EZ) 2017 5/13/2019 8:13:38 AM 17 2017 Return Trustees of Dartmouth College 02-0222111 Page 4 Schedule A (Form 990 or 990-EZ) 2017 Part IV Supporting Organizations (Complete only if you checked a box in line 12 on Part I. If you checked 12a of Part I, complete Sections A and B. If you checked 12b of Part I, complete Sections A and C. If you checked 12c of Part I, complete Sections A, D, and E. If you checked 12d of Part I, complete Sections A and D, and complete Part V.) Section A. All Supporting Organizations Yes No 1 Are all of the organization’s supported organizations listed by name in the organization’s governing documents? If “No,” describe in Part VI how the supported organizations are designated. If designated by class or purpose, describe the designation. If historic and continuing relationship, explain. 2 Did the organization have any supported organization that does not have an IRS determination of status under section 509(a)(1) or (2)? If “Yes,” explain in Part VI how the organization determined that the supported organization was described in section 509(a)(1) or (2). Did the organization have a supported organization described in section 501(c)(4), (5), or (6)? If “Yes,” answer (b) and (c) below. 3a b Did the organization confirm that each supported organization qualified under section 501(c)(4), (5), or (6) and satisfied the public support tests under section 509(a)(2)? If “Yes,” describe in Part VI when and how the organization made the determination. c Did the organization ensure that all support to such organizations was used exclusively for section 170(c)(2)(B) purposes? If “Yes,” explain in Part VI what controls the organization put in place to ensure such use. 4a Was any supported organization not organized in the United States (“foreign supported organization”)? If “Yes,” and if you checked 12a or 12b in Part I, answer (b) and (c) below. b Did the organization have ultimate control and discretion in deciding whether to make grants to the foreign supported organization? If “Yes,” describe in Part VI how the organization had such control and discretion despite being controlled or supervised by or in connection with its supported organizations. 1 2 3a 3b 3c 4a 4b c Did the organization support any foreign supported organization that does not have an IRS determination under sections 501(c)(3) and 509(a)(1) or (2)? If “Yes,” explain in Part VI what controls the organization used to ensure that all support to the foreign supported organization was used exclusively for section 170(c)(2)(B) purposes. 4c 5a Did the organization add, substitute, or remove any supported organizations during the tax year? If “Yes,” answer (b) and (c) below (if applicable). Also, provide detail in Part VI, including (i) the names and EIN numbers of the supported organizations added, substituted, or removed; (ii) the reasons for each such action; (iii) the authority under the organization’s organizing document authorizing such action; and (iv) how the action was accomplished (such as by amendment to the organizing document). 5a b Type I or Type II only. Was any added or substituted supported organization part of a class already designated in the organization’s organizing document? c Substitutions only. Was the substitution the result of an event beyond the organization’s control? 6 Did the organization provide support (whether in the form of grants or the provision of services or facilities) to anyone other than (i) its supported organizations, (ii) individuals that are part of the charitable class benefited by one or more of its supported organizations, or (iii) other supporting organizations that also support or benefit one or more of the filing organization’s supported organizations? If “Yes,” provide detail in Part VI. 7 Did the organization provide a grant, loan, compensation, or other similar payment to a substantial contributor (defined in section 4958(c)(3)(C)), a family member of a substantial contributor, or a 35% controlled entity with regard to a substantial contributor? If “Yes,” complete Part I of Schedule L (Form 990 or 990-EZ). Did the organization make a loan to a disqualified person (as defined in section 4958) not described in line 7? If “Yes,” complete Part I of Schedule L (Form 990 or 990-EZ). 8 5b 5c 6 7 8 9a Was the organization controlled directly or indirectly at any time during the tax year by one or more disqualified persons as defined in section 4946 (other than foundation managers and organizations described in section 509(a)(1) or (2))? If “Yes,” provide detail in Part VI. b Did one or more disqualified persons (as defined in line 9a) hold a controlling interest in any entity in which the supporting organization had an interest? If “Yes,” provide detail in Part VI. c Did a disqualified person (as defined in line 9a) have an ownership interest in, or derive any personal benefit from, assets in which the supporting organization also had an interest? If “Yes,” provide detail in Part VI. 9a 9b 9c 10a Was the organization subject to the excess business holdings rules of section 4943 because of section 4943(f) (regarding certain Type II supporting organizations, and all Type III non-functionally integrated supporting organizations)? If “Yes,” answer 10b below. b Did the organization have any excess business holdings in the tax year? (Use Schedule C, Form 4720, to determine whether the organization had excess business holdings.) 10a 10b Schedule A (Form 990 or 990-EZ) 2017 5/13/2019 8:13:38 AM 18 2017 Return Trustees of Dartmouth College 02-0222111 Page 5 Schedule A (Form 990 or 990-EZ) 2017 Part IV Supporting Organizations (continued) Yes No 11 a Has the organization accepted a gift or contribution from any of the following persons? A person who directly or indirectly controls, either alone or together with persons described in (b) and (c) below, the governing body of a supported organization? b A family member of a person described in (a) above? c A 35% controlled entity of a person described in (a) or (b) above? If “Yes” to a, b, or c, provide detail in Part VI. 11a 11b 11c Section B. Type I Supporting Organizations Yes No 1 Did the directors, trustees, or membership of one or more supported organizations have the power to regularly appoint or elect at least a majority of the organization’s directors or trustees at all times during the tax year? If “No,” describe in Part VI how the supported organization(s) effectively operated, supervised, or controlled the organization’s activities. If the organization had more than one supported organization, describe how the powers to appoint and/or remove directors or trustees were allocated among the supported organizations and what conditions or restrictions, if any, applied to such powers during the tax year. 2 Did the organization operate for the benefit of any supported organization other than the supported organization(s) that operated, supervised, or controlled the supporting organization? If “Yes,” explain in Part VI how providing such benefit carried out the purposes of the supported organization(s) that operated, supervised, or controlled the supporting organization. 1 2 Section C. Type II Supporting Organizations Yes No 1 Were a majority of the organization’s directors or trustees during the tax year also a majority of the directors or trustees of each of the organization’s supported organization(s)? If “No,” describe in Part VI how control or management of the supporting organization was vested in the same persons that controlled or managed the supported organization(s). 1 Section D. All Type III Supporting Organizations Yes No 1 Did the organization provide to each of its supported organizations, by the last day of the fifth month of the organization’s tax year, (i) a written notice describing the type and amount of support provided during the prior tax year, (ii) a copy of the Form 990 that was most recently filed as of the date of notification, and (iii) copies of the organization’s governing documents in effect on the date of notification, to the extent not previously provided? 1 2 Were any of the organization’s officers, directors, or trustees either (i) appointed or elected by the supported organization(s) or (ii) serving on the governing body of a supported organization? If “No,” explain in Part VI how the organization maintained a close and continuous working relationship with the supported organization(s). 2 3 By reason of the relationship described in (2), did the organization’s supported organizations have a significant voice in the organization’s investment policies and in directing the use of the organization’s income or assets at all times during the tax year? If “Yes,” describe in Part VI the role the organization’s supported organizations played in this regard. 3 Section E. Type III Functionally Integrated Supporting Organizations 1 Check the box next to the method that the organization used to satisfy the Integral Part Test during the year (see instructions). a b c 2 a The organization satisfied the Activities Test. Complete line 2 below. The organization is the parent of each of its supported organizations. Complete line 3 below. The organization supported a governmental entity. Describe in Part VI how you supported a government entity (see instructions). Activities Test. Answer (a) and (b) below. Yes No Did substantially all of the organization’s activities during the tax year directly further the exempt purposes of the supported organization(s) to which the organization was responsive? If “Yes,” then in Part VI identify those supported organizations and explain how these activities directly furthered their exempt purposes, how the organization was responsive to those supported organizations, and how the organization determined that these activities constituted substantially all of its activities. 2a b Did the activities described in (a) constitute activities that, but for the organization’s involvement, one or more of the organization’s supported organization(s) would have been engaged in? If “Yes,” explain in Part VI the reasons for the organization’s position that its supported organization(s) would have engaged in these activities but for the organization’s involvement. 2b 3 a Parent of Supported Organizations. Answer (a) and (b) below. Did the organization have the power to regularly appoint or elect a majority of the officers, directors, or trustees of each of the supported organizations? Provide details in Part VI. b Did the organization exercise a substantial degree of direction over the policies, programs, and activities of each of its supported organizations? If “Yes,” describe in Part VI the role played by the organization in this regard. 3a 3b Schedule A (Form 990 or 990-EZ) 2017 5/13/2019 8:13:38 AM 19 2017 Return Trustees of Dartmouth College 02-0222111 Page 6 Schedule A (Form 990 or 990-EZ) 2017 Part V Type III Non-Functionally Integrated 509(a)(3) Supporting Organizations 1 Check here if the organization satisfied the Integral Part Test as a qualifying trust on Nov. 20, 1970 (explain in Part VI). See instructions. All other Type III non-functionally integrated supporting organizations must complete Sections A through E. (B) Current Year Section A - Adjusted Net Income (A) Prior Year (optional) 1 Net short-term capital gain 1 2 Recoveries of prior-year distributions 2 3 Other gross income (see instructions) 3 4 Add lines 1 through 3. 4 5 Depreciation and depletion 5 6 Portion of operating expenses paid or incurred for production or collection of gross income or for management, conservation, or maintenance of property held for production of income (see instructions) 6 7 Other expenses (see instructions) 7 8 Adjusted Net Income (subtract lines 5, 6, and 7 from line 4). 8 (B) Current Year Section B - Minimum Asset Amount (A) Prior Year (optional) 1 Aggregate fair market value of all non-exempt-use assets (see instructions for short tax year or assets held for part of year): a Average monthly value of securities b Average monthly cash balances c Fair market value of other non-exempt-use assets d Total (add lines 1a, 1b, and 1c) e Discount claimed for blockage or other factors (explain in detail in Part VI): 2 Acquisition indebtedness applicable to non-exempt-use assets 3 Subtract line 2 from line 1d. 4 Cash deemed held for exempt use. Enter 1-1/2% of line 3 (for greater amount, see instructions). 5 Net value of non-exempt-use assets (subtract line 4 from line 3) 6 Multiply line 5 by .035. 7 Recoveries of prior-year distributions 8 Minimum Asset Amount (add line 7 to line 6) 1a 1b 1c 1d 2 3 4 5 6 7 8 Section C - Distributable Amount Current Year 1 1 Adjusted net income for prior year (from Section A, line 8, Column A) 2 Enter 85% of line 1. 2 3 Minimum asset amount for prior year (from Section B, line 8, Column A) 3 4 Enter greater of line 2 or line 3. 4 5 Income tax imposed in prior year 5 6 Distributable Amount. Subtract line 5 from line 4, unless subject to 6 emergency temporary reduction (see instructions). 7 Check here if the current year is the organization’s first as a non-functionally integrated Type III supporting organization (see instructions). Schedule A (Form 990 or 990-EZ) 2017 5/13/2019 8:13:38 AM 20 2017 Return Trustees of Dartmouth College 02-0222111 Page 7 Schedule A (Form 990 or 990-EZ) 2017 Part V Type III Non-Functionally Integrated 509(a)(3) Supporting Organizations (continued) Section D - Distributions 1 Amounts paid to supported organizations to accomplish exempt purposes 2 Amounts paid to perform activity that directly furthers exempt purposes of supported organizations, in excess of income from activity 3 Administrative expenses paid to accomplish exempt purposes of supported organizations 4 Amounts paid to acquire exempt-use assets 5 Qualified set-aside amounts (prior IRS approval required) 6 Other distributions (describe in Part VI). See instructions. 7 Total annual distributions. Add lines 1 through 6. 8 Distributions to attentive supported organizations to which the organization is responsive (provide details in Part VI). See instructions. 9 Distributable amount for 2017 from Section C, line 6 10 Line 8 amount divided by line 9 amount Section E - Distribution Allocations (see instructions) 1 Distributable amount for 2017 from Section C, line 6 2 Underdistributions, if any, for years prior to 2017 (reasonable cause required—explain in Part VI). See instructions. Excess distributions carryover, if any, to 2017 3 (i) Excess Distributions Current Year (ii) Underdistributions Pre-2017 (iii) Distributable Amount for 2017 a b c d e f g h i j From 2013 . . . . . From 2014 . . . . . From 2015 . . . . . From 2016 . . . . . Total of lines 3a through e Applied to underdistributions of prior years Applied to 2017 distributable amount Carryover from 2012 not applied (see instructions) Remainder. Subtract lines 3g, 3h, and 3i from 3f. 4 Distributions for 2017 from Section D, line 7: $ a Applied to underdistributions of prior years b Applied to 2017 distributable amount c Remainder. Subtract lines 4a and 4b from 4. 5 Remaining underdistributions for years prior to 2017, if any. Subtract lines 3g and 4a from line 2. For result greater than zero, explain in Part VI. See instructions. 6 Remaining underdistributions for 2017. Subtract lines 3h and 4b from line 1. For result greater than zero, explain in Part VI. See instructions. 7 Excess distributions carryover to 2018. Add lines 3j and 4c. 8 Breakdown of line 7: a Excess from 2013 . . . b Excess from 2014 . . . c Excess from 2015 . . . d Excess from 2016 . . . e Excess from 2017 . . . Schedule A (Form 990 or 990-EZ) 2017 5/13/2019 8:13:38 AM 21 2017 Return Trustees of Dartmouth College 02-0222111 Part VI Supplemental Information. Provide the explanations required by Part II, line 10; Part II, line 17a or 17b; and Part III, line 12; Part IV, Section A, lines 1, 2, 3b, 3c, 4b, 4c, 5a, 6, 9a, 9b, 9c, 11a, 11b, and 11c; Part IV, Section B, lines 1 and 2; Part IV, Section C, line 1; Part IV, Section D, lines 2 and 3; Part IV, Section E, lines 1c, 2a, 2b, 3a and 3b; Part V, line 1; Part V, Section B, line 1e; Part V, Section D, lines 5, 6, and 8; and Part V, Section E, lines 2, 5, and 6.Also complete this part for any additional information. (See instructions.) Return Reference - Identifier Explanation SCHEDULE A, PART II, OTHER INCOME CONSISTS OF INCOME FROM SPLIT INTEREST DISTRIBUTIONS, FUNDRAISING EVENTS AND LINE 10 OTHER MISCELLANEOUS INCOME. 5/13/2019 8:13:38 AM 22 2017 Return Trustees of Dartmouth College 02-0222111 Return Reference - Identifier SCHEDULE A, PART II, LINE 10 - OTHER INCOME 5/13/2019 8:13:38 AM Explanation Description OTHER INCOME Total (a) 2013 (b) 2014 (c) 2015 (d) 2016 (e) 2017 (f) Total 5,368,452 1,845,165 7,652,192 22,819,168 24,695,837 62,380,814 5,368,452 1,845,165 7,652,192 22,819,168 24,695,837 62,380,814 23 2017 Return Trustees of Dartmouth College 02-0222111 Political Campaign and Lobbying Activities SCHEDULE C (Form 990 or 990-EZ) Department of the Treasury Internal Revenue Service OMB No. 1545-0047 2017 For Organizations Exempt From Income Tax Under section 501(c) and section 527 ▶ Open to Public Inspection Complete if the organization is described below. Attach to Form 990 or Form 990-EZ. ▶ Go to www.irs.gov/Form990 for instructions and the latest information. ▶ If the organization answered “Yes,” on Form 990, Part IV, line 3, or Form 990-EZ, Part V, line 46 (Political Campaign Activities), then • Section 501(c)(3) organizations: Complete Parts I-A and B. Do not complete Part I-C. • Section 501(c) (other than section 501(c)(3)) organizations: Complete Parts I-A and C below. Do not complete Part I-B. • Section 527 organizations: Complete Part I-A only. If the organization answered “Yes,” on Form 990, Part IV, line 4, or Form 990-EZ, Part VI, line 47 (Lobbying Activities), then • Section 501(c)(3) organizations that have filed Form 5768 (election under section 501(h)): Complete Part II-A. Do not complete Part II-B. • Section 501(c)(3) organizations that have NOT filed Form 5768 (election under section 501(h)): Complete Part II-B. Do not complete Part II-A. If the organization answered “Yes,” on Form 990, Part IV, line 5 (Proxy Tax) (see separate instructions) or Form 990-EZ, Part V, line 35c (Proxy Tax) (see separate instructions), then • Section 501(c)(4), (5), or (6) organizations: Complete Part III. Name of organization Employer identification number TRUSTEES OF DARTMOUTH COLLEGE Part I-A 1 2 3 2 3 4 5 Complete if the organization is exempt under section 501(c)(3). Enter the amount of any excise tax incurred by the organization under section 4955 . . Enter the amount of any excise tax incurred by organization managers under section 4955 If the organization incurred a section 4955 tax, did it file Form 4720 for this year? . . . Was a correction made? . . . . . . . . . . . . . . . . . . . . . . If “Yes,” describe in Part IV. Part I-C 1 Complete if the organization is exempt under section 501(c) or is a section 527 organization. Provide a description of the organization’s direct and indirect political campaign activities in Part IV. (see instructions for definition of “political campaign activities”) Political campaign activity expenditures (see instructions) . . . . . . . . . . . . . ▶ $ Volunteer hours for political campaign activities (see instructions) . . . . . . . . . . . Part I-B 1 2 3 4a b 02-0222111 . . . . . . . . ▶ ▶ . . $ $ . . . . . . Yes Yes No No Complete if the organization is exempt under section 501(c), except section 501(c)(3). Enter the amount directly expended by the filing organization for section 527 exempt function activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ▶ $ Enter the amount of the filing organization’s funds contributed to other organizations for section 527 exempt function activities . . . . . . . . . . . . . . . . . . . . . . ▶ $ Total exempt function expenditures. Add lines 1 and 2. Enter here and on Form 1120-POL, line 17b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ▶ $ Yes No Did the filing organization file Form 1120-POL for this year? . . . . . . . . . . . . . . . . Enter the names, addresses and employer identification number (EIN) of all section 527 political organizations to which the filing organization made payments. For each organization listed, enter the amount paid from the filing organization’s funds. Also enter the amount of political contributions received that were promptly and directly delivered to a separate political organization, such as a separate segregated fund or a political action committee (PAC). If additional space is needed, provide information in Part IV. (a) Name (b) Address (c) EIN (d) Amount paid from filing organization’s funds. If none, enter -0-. (e) Amount of political contributions received and promptly and directly delivered to a separate political organization. If none, enter -0-. (1) (2) (3) (4) (5) (6) For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ. 5/13/2019 8:13:38 AM 28 Cat. No. 50084S 2017 Return Schedule C (Form 990 or 990-EZ) 2017 Trustees of Dartmouth College 02-0222111 Page 2 Schedule C (Form 990 or 990-EZ) 2017 Part II-A A Check Complete if the organization is exempt under section 501(c)(3) and filed Form 5768 (election under section 501(h)). if the filing organization belongs to an affiliated group (and list in Part IV each affiliated group member’s name, address, EIN, expenses, and share of excess lobbying expenditures). if the filing organization checked box A and “limited control” provisions apply. B Check ▶ Limits on Lobbying Expenditures (a) Filing (b) Affiliated organization’s totals group totals (The term “expenditures” means amounts paid or incurred.) 1a Total lobbying expenditures to influence public opinion (grass roots lobbying) . . . . b Total lobbying expenditures to influence a legislative body (direct lobbying) . . . . . c Total lobbying expenditures (add lines 1a and 1b) . . . . . . . . . . . . . d Other exempt purpose expenditures . . . . . . . . . . . . . . . . . . e Total exempt purpose expenditures (add lines 1c and 1d) . . . . . . . . . . . f Lobbying nontaxable amount. Enter the amount from the following table in both columns. ▶ If the amount on line 1e, column (a) or (b) is: Not over $500,000 Over $500,000 but not over $1,000,000 Over $1,000,000 but not over $1,500,000 Over $1,500,000 but not over $17,000,000 Over $17,000,000 g h i j The lobbying nontaxable amount is: 20% of the amount on line 1e. $100,000 plus 15% of the excess over $500,000. $175,000 plus 10% of the excess over $1,000,000. $225,000 plus 5% of the excess over $1,500,000. $1,000,000. Grassroots nontaxable amount (enter 25% of line 1f) Subtract line 1g from line 1a. If zero or less, enter -0Subtract line 1f from line 1c. If zero or less, enter -0If there is an amount other than zero on either line reporting section 4911 tax for this year? . . . . . . . . . . . . . . . . 1h or line . . . . . . . 1i, . . . . . . . . . . did the . . . . . . . . . . . . . . . organization file Form 4720 . . . . . . . . . . Yes No 4-Year Averaging Period Under section 501(h) (Some organizations that made a section 501(h) election do not have to complete all of the five columns below. See the separate instructions for lines 2a through 2f.) Lobbying Expenditures During 4-Year Averaging Period Calendar year (or fiscal year beginning in) 2a (a) 2014 (b) 2015 (c) 2016 (d) 2017 (e) Total Lobbying nontaxable amount b Lobbying ceiling amount (150% of line 2a, column (e)) c Total lobbying expenditures d Grassroots nontaxable amount e Grassroots ceiling amount (150% of line 2d, column (e)) f Grassroots lobbying expenditures Schedule C (Form 990 or 990-EZ) 2017 5/13/2019 8:13:38 AM 29 2017 Return Trustees of Dartmouth College 02-0222111 Page 3 Schedule C (Form 990 or 990-EZ) 2017 Part II-B Complete if the organization is exempt under section 501(c)(3) and has NOT filed Form 5768 (election under section 501(h)). For each “Yes,” response on lines 1a through 1i below, provide in Part IV a detailed description of the lobbying activity. 1 a b c d e f g h i j 2a b c d During the year, did the filing organization attempt to influence foreign, national, state or local legislation, including any attempt to influence public opinion on a legislative matter or referendum, through the use of: Volunteers? . . . . . . . . . . . . . . . . . . . . . . . . . . . . Paid staff or management (include compensation in expenses reported on lines 1c through 1i)? Media advertisements? . . . . . . . . . . . . . . . . . . . . . . . . Mailings to members, legislators, or the public? . . . . . . . . . . . . . . . . Publications, or published or broadcast statements? . . . . . . . . . . . . . . Grants to other organizations for lobbying purposes? . . . . . . . . . . . . . . Direct contact with legislators, their staffs, government officials, or a legislative body? . . . Rallies, demonstrations, seminars, conventions, speeches, lectures, or any similar means? . . Other activities? . . . . . . . . . . . . . . . . . . . . . . . . . . Total. Add lines 1c through 1i . . . . . . . . . . . . . . . . . . . . . . Did the activities in line 1 cause the organization to be not described in section 501(c)(3)? . . If “Yes,” enter the amount of any tax incurred under section 4912 . . . . . . . . . . If “Yes,” enter the amount of any tax incurred by organization managers under section 4912 . If the filing organization incurred a section 4912 tax, did it file Form 4720 for this year? . . . Part III-A (a) Yes (b) No Amount ✔ ✔ ✔ ✔ ✔ ✔ 21,194 12,527 ✔ ✔ ✔ 33,721 ✔ Complete if the organization is exempt under section 501(c)(4), section 501(c)(5), or section 501(c)(6). Yes 1 2 3 Were substantially all (90% or more) dues received nondeductible by members? . . . . . . . . . Did the organization make only in-house lobbying expenditures of $2,000 or less? . . . . . . . . . Did the organization agree to carry over lobbying and political campaign activity expenditures from the prior year? Part III-B Complete if the organization is exempt under section 501(c)(4), section 501(c)(5), or section 501(c)(6) and if either (a) BOTH Part III-A, lines 1 and 2, are answered “No,” OR (b) Part III-A, line 3, is answered “Yes.” 1 2 Dues, assessments and similar amounts from members . . . . . . . . . . . . . . . Section 162(e) nondeductible lobbying and political expenditures (do not include amounts of political expenses for which the section 527(f) tax was paid). a Current year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b Carryover from last year . . . . . . . . . . . . . . . . . . . . . . . . . . c Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Aggregate amount reported in section 6033(e)(1)(A) notices of nondeductible section 162(e) dues . . 4 If notices were sent and the amount on line 2c exceeds the amount on line 3, what portion of the excess does the organization agree to carryover to the reasonable estimate of nondeductible lobbying and political expenditure next year? . . . . . . . . . . . . . . . . . . . . . . 5 Taxable amount of lobbying and political expenditures (see instructions) . . . . . . . . . . Part IV No 1 2 3 1 2a 2b 2c 3 4 5 Supplemental Information Provide the descriptions required for Part I-A, line 1; Part I-B, line 4; Part I-C, line 5; Part II-A (affiliated group list); Part II-A, lines 1 and 2 (see instructions); and Part II-B, line 1. Also, complete this part for any additional information. SEE NEXT PAGE Schedule C (Form 990 or 990-EZ) 2017 5/13/2019 8:13:38 AM 30 2017 Return Trustees of Dartmouth College 02-0222111 Part IV Return Reference - Identifier SCHEDULE C, PART II-B, LINE 1 - DETAILED DESCRIPTION OF THE LOBBYING ACTIVITY Supplemental Information. Provide the descriptions required for Part I-A, line 1; Part I-B, line 4; Part I-C, line 5; Part II-A (affiliated group list); Part II-A, lines 1 and 2 (see instructions); and Part II-B, line 1. Also, complete this part for any additional information. Explanation WRITTEN PUBLIC COMMENTS WERE PREPARED AND SUBMITTED IN RESPONSE TO FEDERAL PROPOSED RULEMAKING AFFECTING US IMMIGRATION POLICY. MEETINGS WERE HELD WITH NH LEGISLATIVE STAFF TO ADVOCATE REGARDING CERTAIN IMMIGRATION POLICY MEASURES IMPACTING INTERNATIONAL EDUCATION. MEETINGS WERE HELD WITH US SENATORS AND CONGRESSIONAL REPRESENTATIVES AS WELL AS NH LEGISLATORS TO DISCUSS MATTERS AFFECTING DARTMOUTH. 5/13/2019 8:13:38 AM 31 2017 Return Trustees of Dartmouth College 02-0222111 SCHEDULE D (Form 990) Department of the Treasury Internal Revenue Service OMB No. 1545-0047 Supplemental Financial Statements 2017 ▶ Complete if the organization answered “Yes” on Form 990, Part IV, line 6, 7, 8, 9, 10, 11a, 11b, 11c, 11d, 11e, 11f, 12a, or 12b. ▶ Attach to Form 990. ▶ Go to www.irs.gov/Form990 for instructions and the latest information. Name of the organization Open to Public Inspection Employer identification number TRUSTEES OF DARTMOUTH COLLEGE Part I 02-0222111 Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered “Yes” on Form 990, Part IV, line 6. (a) Donor advised funds 1 2 3 4 5 6 44 0 Total number at end of year . . . . . . . 23,833,718 0 Aggregate value of contributions to (during year) 21,548,902 0 Aggregate value of grants from (during year) . 46,919,440 0 Aggregate value at end of year . . . . . . Did the organization inform all donors and donor advisors in writing that the assets held in donor advised funds are the organization’s property, subject to the organization’s exclusive legal control? . . . . . . ✔ Yes No Did the organization inform all grantees, donors, and donor advisors in writing that grant funds can be used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit? . . . . . . . . . . . . . . . . . . . . . . ✔ Yes No Part II 1 2 a b c d 3 4 5 6 (b) Funds and other accounts Conservation Easements. Complete if the organization answered “Yes” on Form 990, Part IV, line 7. Purpose(s) of conservation easements held by the organization (check all that apply). Preservation of land for public use (e.g., recreation or education) Preservation of a historically important land area Protection of natural habitat Preservation of a certified historic structure Preservation of open space Complete lines 2a through 2d if the organization held a qualified conservation contribution in the form of a conservation Held at the End of the Tax Year easement on the last day of the tax year. Total number of conservation easements . . . . . . . . . . . . . . . . . 2a Total acreage restricted by conservation easements . . . . . . . . . . . . . . 2b 2c Number of conservation easements on a certified historic structure included in (a) . . . . Number of conservation easements included in (c) acquired after 7/25/06, and not on a historic structure listed in the National Register . . . . . . . . . . . . . . . 2d Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during the tax year ▶ Number of states where property subject to conservation easement is located ▶ Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and enforcement of the conservation easements it holds? . . . . . . . . . . . . . Yes No Staff and volunteer hours devoted to monitoring, inspecting, handling of violations, and enforcing conservation easements during the year ▶ 7 8 9 Amount of expenses incurred in monitoring, inspecting, handling of violations, and enforcing conservation easements during the year ▶$ Does each conservation easement reported on line 2(d) above satisfy the requirements of section 170(h)(4)(B)(i) and section 170(h)(4)(B)(ii)? . . . . . . . . . . . . . . . . . . . . . . . . . . . Yes No In Part XIII, describe how the organization reports conservation easements in its revenue and expense statement, and balance sheet, and include, if applicable, the text of the footnote to the organization’s financial statements that describes the organization’s accounting for conservation easements. Part III 1a Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets. Complete if the organization answered “Yes” on Form 990, Part IV, line 8. If the organization elected, as permitted under SFAS 116 (ASC 958), not to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide, in Part XIII, the text of the footnote to its financial statements that describes these items. b If the organization elected, as permitted under SFAS 116 (ASC 958), to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide the following amounts relating to these items: 2 (i) Revenue included on Form 990, Part VIII, line 1 . . . . . . . . . . . . . . . . ▶ $ (ii) Assets included in Form 990, Part X . . . . . . . . . . . . . . . . . . . . ▶ $ If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the following amounts required to be reported under SFAS 116 (ASC 958) relating to these items: a Revenue included on Form 990, Part VIII, line 1 b Assets included in Form 990, Part X . . . . . . . . . . . . For Paperwork Reduction Act Notice, see the Instructions for Form 990. 5/13/2019 8:13:38 AM 32 . . . . . . . . . . . . . . . . . . . . . . Cat. No. 52283D 2017 Return . . . . ▶ ▶ $ $ Schedule D (Form 990) 2017 Trustees of Dartmouth College 02-0222111 Page 2 Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued) Schedule D (Form 990) 2017 Part III 3 Using the organization’s acquisition, accession, and other records, check any of the following that are a significant use of its collection items (check all that apply): a b c 4 5 Public exhibition d ✔ Loan or exchange programs Scholarly research Other e ✔ Preservation for future generations Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in Part XIII. During the year, did the organization solicit or receive donations of art, historical treasures, or other similar assets to be sold to raise funds rather than to be maintained as part of the organization’s collection? . . Yes ✔ No ✔ ✔ Part IV 1a Escrow and Custodial Arrangements. Complete if the organization answered “Yes” on Form 990, Part IV, line 9, or reported an amount on Form 990, Part X, line 21. Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not included on Form 990, Part X? . . . . . . . . . . . . . . . . . . . . . . . . . . b If “Yes,” explain the arrangement in Part XIII and complete the following table: c d e f 2a b 1a Beginning of year balance . . . b Contributions . . . . . . . c Net investment earnings, gains, and losses . . . . . . . . . . d Grants or scholarships . . . . e Other expenditures for facilities and programs . . . . . . . . . 3a (b) Prior year (c) Two years back (d) Three years back ✔ . ✔ No (e) Four years back 4,956,494,167 183,367,884 4,474,403,649 77,116,273 4,663,491,080 119,094,796 4,468,219,689 59,579,814 3,733,596,412 147,989,900 590,875,248 51,914,253 630,383,527 49,921,282 (99,549,524) 46,798,620 349,916,940 47,674,135 777,453,327 42,660,486 184,619,994 175,488,000 161,834,083 166,551,228 148,159,464 Administrative expenses . . . . 5,494,203,052 4,956,494,167 4,474,403,649 4,663,491,080 End of year balance . . . . . Provide the estimated percentage of the current year end balance (line 1g, column (a)) held as: 22.74 % Board designated or quasi-endowment ▶ 26.20 % Permanent endowment ▶ 51.06 % Temporarily restricted endowment ▶ The percentages on lines 2a, 2b, and 2c should equal 100%. Are there endowment funds not in the possession of the organization that are held and administered for the organization by: (i) unrelated organizations . . . . . . . . . . . . . . . . . . . . (ii) related organizations . . . . . . . . . . . . . . . . . . . . . b If “Yes” on line 3a(ii), are the related organizations listed as required on Schedule R? . 4 Describe in Part XIII the intended uses of the organization’s endowment funds. Part VI Yes . No Endowment Funds. Complete if the organization answered “Yes” on Form 990, Part IV, line 10. (a) Current year f g 2 a b c ✔ Amount Beginning balance . . . . . . . . . . . . . . . . . . . . . . 1c Additions during the year . . . . . . . . . . . . . . . . . . . 1d Distributions during the year . . . . . . . . . . . . . . . . . . 1e Ending balance . . . . . . . . . . . . . . . . . . . . . . . 1f Did the organization include an amount on Form 990, Part X, line 21, for escrow or custodial account liability? If “Yes,” explain the arrangement in Part XIII. Check here if the explanation has been provided on Part XIII . . Part V Yes . . . . . . . . . . . . . . . . . . . . . 4,468,219,689 Yes No 3a(i) 3a(ii) 3b ✔ ✔ Land, Buildings, and Equipment. Complete if the organization answered “Yes” on Form 990, Part IV, line 11a. See Form 990, Part X, line 10. Description of property (a) Cost or other basis (investment) (b) Cost or other basis (other) (c) Accumulated depreciation 1a b c d e 20,481,213 Land . . . . . . . . . . . 1,350,716,443 Buildings . . . . . . . . . . 0 Leasehold improvements . . . . 366,165,917 Equipment . . . . . . . . . Other . . . . . . . . . . . 193,214,198 Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10c.) . (d) Book value 590,244,718 0 281,101,643 91,544,872 . . . . ▶ 20,481,213 760,471,725 0 85,064,274 101,669,326 967,686,538 Schedule D (Form 990) 2017 5/13/2019 8:13:38 AM 33 2017 Return Trustees of Dartmouth College 02-0222111 Page 3 Schedule D (Form 990) 2017 Part VII Investments—Other Securities. Complete if the organization answered “Yes” on Form 990, Part IV, line 11b. See Form 990, Part X, line 12. (a) Description of security or category (including name of security) (1) Financial derivatives . . . (2) Closely-held equity interests . (3) Other (A) (B) (C) (D) (E) (F) (G) (H) . . . . . . . . . . (b) Book value . . . . . . . . . . . . . . PRIVATE EQUITY/VENTURE CAPITAL LIMITED PARTNERSHIP REAL ESTATE & REAL ASSET LIMITED PARTNERSHIP OTHER INVESTMENTS FIXED INCOME SECURITIES AND COMMINGLED FUNDS GLOBAL EQUITY COMMINGLED FUNDS MARKETABLE ALTERNATIVE STRATEGIES COMMINGLED FUNDS INVESTMENT CONTRIBUTIONS IN ADVANCE Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.) Part VIII (c) Method of valuation: Cost or end-of-year market value 1,144,365,798 733,201,778 1,225,465 59,710,304 2,091,782,468 1,295,279,728 78,892,785 ▶ END OF YEAR MARKET VALUE END OF YEAR MARKET VALUE END OF YEAR MARKET VALUE END OF YEAR MARKET VALUE END OF YEAR MARKET VALUE END OF YEAR MARKET VALUE END OF YEAR MARKET VALUE 5,404,458,326 Investments—Program Related. Complete if the organization answered “Yes” on Form 990, Part IV, line 11c. See Form 990, Part X, line 13. (a) Description of investment (b) Book value (c) Method of valuation: Cost or end-of-year market value (1) (2) (3) (4) (5) (6) (7) (8) (9) Total. (Column (b) must equal Form 990, Part X, col. (B) line 13.) Part IX ▶ Other Assets. Complete if the organization answered “Yes” on Form 990, Part IV, line 11d. See Form 990, Part X, line 15. (a) Description (b) Book value (1) (2) (3) (4) (5) (6) (7) (8) (9) Total. (Column (b) must equal Form 990, Part X, col. (B) line 15.) . Part X 1. . . . . . . . . . . . . . ▶ Other Liabilities. Complete if the organization answered “Yes” on Form 990, Part IV, line 11e or 11f. See Form 990, Part X, line 25. (a) Description of liability (b) Book value (1) Federal income taxes (2) MARK TO MARKET LIABILITY ON INTEREST RATE SWAP AGREEMENTS (3) EMPLOYEE BENEFIT LIABILITIES (4) PENDING TRADES LIABILITY (5) CONDITIONAL ASSET RETIREMENT OBLIGATION (6) GOVERNMENT ADVANCE, STUDENT LOANS (7) OTHER (8) (9) 135,102,107 353,606,069 51,124,308 24,062,553 17,796,810 19,887,272 Total. (Column (b) must equal Form 990, Part X, col. (B) line 25.) ▶ 601,579,119 2. Liability for uncertain tax positions. In Part XIII, provide the text of the footnote to the organization’s financial statements that reports the organization’s liability for uncertain tax positions under FIN 48 (ASC 740). Check here if the text of the footnote has been provided in Part XIII ✔ Schedule D (Form 990) 2017 5/13/2019 8:13:38 AM 34 2017 Return Trustees of Dartmouth College 02-0222111 Page 4 Schedule D (Form 990) 2017 Part XI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return. Complete if the organization answered “Yes” on Form 990, Part IV, line 12a. 1 2 Total revenue, gains, and other support per audited financial statements . . Amounts included on line 1 but not on Form 990, Part VIII, line 12: a Net unrealized gains (losses) on investments . . . . . . . . . 2a b Donated services and use of facilities . . . . . . . . . . . 2b c Recoveries of prior year grants . . . . . . . . . . . . . . 2c d Other (Describe in Part XIII.) . . . . . . . . . . . . . . . 2d e Add lines 2a through 2d . . . . . . . . . . . . . . . . . . 3 Subtract line 2e from line 1 . . . . . . . . . . . . . . . . . 4 Amounts included on Form 990, Part VIII, line 12, but not on line 1: a Investment expenses not included on Form 990, Part VIII, line 7b . . 4a b Other (Describe in Part XIII.) . . . . . . . . . . . . . . . 4b c Add lines 4a and 4b . . . . . . . . . . . . . . . . . . . 5 Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) Part XII . . . . . . 1 . . . . . . . . . . . . . . 2e 3 . . . . . . . . . . . . . . 4c 5 Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered “Yes” on Form 990, Part IV, line 12a. 1 2 Total expenses and losses per audited financial statements . . . . . . Amounts included on line 1 but not on Form 990, Part IX, line 25: a Donated services and use of facilities . . . . . . . . . . . 2a b Prior year adjustments . . . . . . . . . . . . . . . . 2b c Other losses . . . . . . . . . . . . . . . . . . . . 2c d Other (Describe in Part XIII.) . . . . . . . . . . . . . . . 2d e Add lines 2a through 2d . . . . . . . . . . . . . . . . . . 3 Subtract line 2e from line 1 . . . . . . . . . . . . . . . . . 4 Amounts included on Form 990, Part IX, line 25, but not on line 1: a Investment expenses not included on Form 990, Part VIII, line 7b . . 4a b Other (Describe in Part XIII.) . . . . . . . . . . . . . . . 4b c Add lines 4a and 4b . . . . . . . . . . . . . . . . . . . 5 Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) Part XIII . . . . . . . . 1 . . . . . . . . . . . . . . 2e 3 . . . . . . . . . . . . . . 4c 5 Supplemental Information. Provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part IV, lines 1b and 2b; Part V, line 4; Part X, line 2; Part XI, lines 2d and 4b; and Part XII, lines 2d and 4b. Also complete this part to provide any additional information. SEE STATEMENT Schedule D (Form 990) 2017 5/13/2019 8:13:38 AM 35 2017 Return Trustees of Dartmouth College 02-0222111 Part XIII Return Reference - Identifier SCHEDULE D, PART III, LINE 1A - COLLECTIONS OF ART - FINANCIAL STATEMENT FOOTNOTE Supplemental Information. Provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part IV, lines 1b and 2b; Part V, line 4; Part X, line 2; Part XI, lines 2d and 4b; and Part XII, lines 2d and 4b. Also complete this part to provide any additional information. Explanation DARTMOUTH'S COLLECTIONS INCLUDE WORKS OF ART, LITERARY WORKS, HISTORICAL TREASURES, AND ARTIFACTS THAT ARE MAINTAINED IN ITS MUSEUM AND LIBRARIES. THESE COLLECTIONS ARE PROTECTED AND PRESERVED FOR PUBLIC EXHIBITION, EDUCATION, RESEARCH, AND THE FURTHERANCE OF PUBLIC SERVICE. EACH OF THE ITEMS IS CATALOGED, PRESERVED, AND CARED FOR, AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED CONTINUOUSLY. THE COLLECTIONS ARE SUBJECT TO A POLICY THAT REQUIRES PROCEEDS FROM THEIR SALE TO BE USED TO ACQUIRE OTHER ITEMS FOR COLLECTIONS. THE COLLECTIONS, WHICH WERE ACQUIRED THROUGH PURCHASES AND CONTRIBUTIONS SINCE DARTMOUTH'S INCEPTION, ARE NOT RECOGNIZED AS ASSETS IN THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION. PURCHASES OF COLLECTION ITEMS ARE RECORDED IN THE CONSOLIDATED STATEMENT OF ACTIVITIES AS NON-OPERATING DECREASES IN UNRESTRICTED NET ASSETS IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED OR IN TEMPORARILY RESTRICTED NET ASSETS IF THE ASSETS USED TO PURCHASE THE ITEMS ARE RESTRICTED BY DONORS. CONTRIBUTED COLLECTION ITEMS ARE NOT RECORDED IN THE CONSOLIDATED FINANCIAL STATEMENTS. SCHEDULE D, PART III, COLLECTIONS AT DARTMOUTH COLLEGE EXIST IN TWO PRIMARY AREAS: THE HOOD MUSEUM OF ART (THE LINE 4 - COLLECTIONS OF HOOD) AND THE DARTMOUTH COLLEGE LIBRARY SYSTEM. ART - DESCRIPTION OF COLLECTIONS THE HOOD MUSEUM OF ART AT DARTMOUTH COLLEGE IS ONE OF THE OLDEST AND LARGEST COLLEGE MUSEUMS IN THE COUNTRY. THE COLLECTIONS OF THE HOOD, WHICH NUMBER SOME 65,000 OBJECTS, ARE RICH, DIVERSE, AND AVAILABLE FOR THE USE BY BOTH DARTMOUTH AND THE BROADER COMMUNITY. ACCESS TO WORKS OF ART IS PROVIDED THROUGH PERMANENT COLLECTION DISPLAYS, THE ONLINE COLLECTIONS DATABASE, SPECIAL EXHIBITIONS, THE WEBSITE, SCHOLARLY PUBLICATIONS, AND PROGRAMS AND EVENTS. THESE EXHIBITS AND PROGRAMS ARE AN EXCITING LEARNING RESOURCE FOR STUDENTS AND THE ACADEMIC COMMUNITY. THE HOOD OFFERS A VITAL CURRICULAR RESOURCE, A SOURCE FOR LECTURES, GALLERY TALKS, SYMPOSIA, AND RECEPTIONS FOR THE PUBLIC, AND AN ON-LINE DATABASE OF THOUSANDS OF WORKS. THE DARTMOUTH COLLEGE LIBRARY IS COMMITTED TO PARTNERING WITH FACULTY AND STUDENTS TO ENHANCE AND SHOWCASE DARTMOUTH SCHOLARLY OUTPUT AND ENTREPRENURIAL ENDEAVORS. THE LIBRARY PROVIDES IMMERSIVE AND TRANSFORMATIVE LEARNING EXPERIENCES, PREPARES STUDENTS FOR A LIFETIME OF LEARNING AND RESPONSIBLE LEADERSHIP, AND PROACTIVELY SUPPORTS UNDERGRADUATE, GRADUATE, AND PROFESSIONAL STUDENT ACADEMIC SUCCESS THROUGH INNOVATIVE EDUCATIONAL PROGRAMS. THE LIBRARY OFFERS CREATIVE WORKSPACES FOR INDIVIDUAL AND COLLABORATIVE SCHOLARLY ENQUIRY AND AIMS TO PROMOTE WELL-BEING AS WELL AS STIMULATE INNOVATIVE THINKING. THE RAUNER SPECIAL COLLECTIONS LIBRARY HOUSES DARTMOUTH'S ARCHIVES, THE RARE BOOKS COLLECTIONS, AND THE MANUSCRIPTS COLLECTION. DARTMOUTH'S ARCHIVES DOCUMENTS THE HISTORY OF THE COLLEGE THROUGH THE HISTORICAL RECORDS OF THE INSTITUTION AND THE THREE PROFESSIONAL SCHOOLS, AS WELL AS THE HISTORY OF THE SURROUNDING AREA THROUGH SELECTED COLLECTIONS RELATED TO LOCAL BUSINESSES AND ORGANIZATIONS. TOTALING MORE THAN 100,000 VOLUMES, DARTMOUTH'S RARE BOOK COLLECTIONS CONSTITUTE A RESOURCE OF MAJOR IMPORTANCE TO THE INSTITUTION AND THE SCHOLARLY WORLD AT LARGE. THE MANUSCRIPT COLLECTIONS CONTAIN OVER SIX AND A HALF MILLION UNIQUE AND ORIGINAL ITEMS. DARTMOUTH STUDENTS, FACULTY, STAFF AND OUTSIDE RESEARCHERS ARE ALL WELCOME TO MAKE USE OF RAUNER LIBRARY'S EXTENSIVE HOLDINGS OF RARE BOOKS, MANUSCRIPTS, AND ARCHIVAL DOCUMENTS FOR THEIR RESEARCH. SCHEDULE D, PART IV, CERTAIN DONORS HAVE ESTABLISHED IRREVOCABLE SPLIT-INTEREST AGREEMENTS WITH DARTMOUTH, LINE 2B - EXPLANATION PRIMARILY CHARITABLE GIFT ANNUITIES, POOLED LIFE INCOME FUNDS, AND IRREVOCABLE CHARITABLE OF ESCROW AGREEMENT REMAINDER TRUSTS, WHEREBY THE DONATED ASSETS ARE INVESTED AND A LIABILITY IS RECOGNIZED FOR DISTRIBUTIONS TO BE MADE IN ACCORDANCE WITH THE AGREEMENTS. SCHEDULE D, PART V, LINE 4 - INTENDED USES OF ENDOWMENT FUNDS SCHEDULE D, PART X, LINE 2 - FIN 48 (ASC 740) FOOTNOTE 5/13/2019 8:13:38 AM FOR ALL RESIDENTIAL RENTAL PROPERTIES AND SOME COMMERCIAL RENTAL PROPERTIES, DARTMOUTH COLLECTS A SECURITY DEPOSIT WHICH IT HOLDS IN ESCROW TO BE USED, IF NECESSARY, TO PAY FOR DAMAGES IDENTIFIED WHEN THE PROPERTY IS VACATED. DARTMOUTH'S ENDOWMENT PLAYS A CRITICAL ROLE IN SUPPORTING THE CURRENT AND FUTURE WORK OF DARTMOUTH. ITS INVESTMENT AND SPENDING POLICIES ARE DESIGNED TO BALANCE THE NEEDS OF CURRENT DARTMOUTH STUDENTS WITH THE NEEDS OF FUTURE GENERATIONS OF DARTMOUTH STUDENTS. EARNING LONG-TERM RETURNS THAT MAINTAIN THE INFLATION-ADJUSTED PURCHASING POWER OF THE ENDOWMENT UNDERPINS THIS CONCEPT OF INTERGENERATIONAL EQUITY. THE ENDOWMENT IS COMPOSED OF BOTH RESTRICTED FUNDS, FOR WHICH DONORS DESIGNATE A SPECIFIC PURPOSE FOR THEIR GIFTS, AND UNRESTRICTED FUNDS. THERE ARE OVER 6,000 SEPARATE FUNDS THAT MAKE UP DARTMOUTH'S ENDOWMENT. DARTMOUTH'S ENDOWMENT SPENDING POLICY SEEKS TO BALANCE THE COMPETING OBJECTIVES OF SUPPORTING THE CURRENT GENERATION OF STUDENTS AND FACULTY WITH THE NEED TO PRESERVE THE ENDOWMENT'S PURCHASING POWER FOR FUTURE GENERATIONS. DISTRIBUTIONS FROM THE ENDOWMENT, WHICH ARE APPROVED ANNUALLY BY THE BOARD OF TRUSTEES, ARE INTENDED TO SUPPORT DARTMOUTH'S MISSION BY CONTRIBUTING FUNDING TO SUPPORT FINANCIAL AID AND A VARIETY OF NEEDS IN ACADEMIC, RESEARCH AND STUDENT LIFE ACTIVITIES. DARTMOUTH BELIEVES IT HAS TAKEN NO SIGNIFICANT UNCERTAIN TAX POSITIONS. 36 2017 Return Trustees of Dartmouth College 02-0222111 OMB No. 1545-0047 Schools SCHEDULE E (Form 990 or 990-EZ) ▶ Department of the Treasury Internal Revenue Service 2017 Complete if the organization answered “Yes” on Form 990, Part IV, line 13, or Form 990-EZ, Part VI, line 48. ▶ Attach to Form 990 or Form 990-EZ. ▶ Go to www.irs.gov/Form990 for the latest information. Open to Public Inspection Employer identification number Name of the organization TRUSTEES OF DARTMOUTH COLLEGE 02-0222111 Part I YES NO Does the organization have a racially nondiscriminatory policy toward students by statement in its charter, bylaws, other governing instrument, or in a resolution of its governing body? . . . . . . . . . . 1 ✔ 2 Does the organization include a statement of its racially nondiscriminatory policy toward students in all its brochures, catalogues, and other written communications with the public dealing with student admissions, programs, and scholarships? . . . . . . . . . . . . . . . . . . . . . . . . . . 2 ✔ 3 Has the organization publicized its racially nondiscriminatory policy through newspaper or broadcast media during the period of solicitation for students, or during the registration period if it has no solicitation program, in a way that makes the policy known to all parts of the general community it serves? If “Yes,” please describe. If “No,” please explain. If you need more space, use Part II . . . . . . . . . . . . . 3 ✔ 4a ✔ 4b ✔ ✔ 1 DARTMOUTH'S RACIALLY NONDISCRIMINATORY POLICY IS WIDELY PUBLICIZED THROUGH A VARIETY OF PRINT AND ELECTRONIC MEDIA. THE NOTIFICATION LANGUAGE SET FORTH IN SECTION 403 OF REV. PROC. 75-50 IS INCLUDED IN DARTMOUTH'S BROCHURES AND OTHER PUBLICATIONS WHICH ARE AVAILABLE TO THE GENERAL PUBLIC. 4 Does the organization maintain the following? a Records indicating the racial composition of the student body, faculty, and administrative staff? . . . . b Records documenting that scholarships and other financial assistance are awarded on a racially nondiscriminatory basis? . . . . . . . . . . . . . . . . . . . . . . . . . . . . c Copies of all catalogues, brochures, announcements, and other written communications to the public dealing with student admissions, programs, and scholarships? . . . . . . . . . . . . . . . . . . d Copies of all material used by the organization or on its behalf to solicit contributions? . . . If you answered “No” to any of the above, please explain. If you need more space, use Part II. 5 a Does the organization discriminate by race in any way with respect to: Students’ rights or privileges? . . . . . . . . . . . . . . b Admissions policies? . c . . . . 4c 4d ✔ . . . . . . . . . . . . 5a ✔ . . . . . . . . . . . . . . . . . . . . . 5b ✔ Employment of faculty or administrative staff? . . . . . . . . . . . . . . . . . . . . . 5c ✔ . . . . . . . d Scholarships or other financial assistance? . . . . . . . . . . . . . . . . . . . . . . 5d ✔ e Educational policies? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5e ✔ f Use of facilities? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5f ✔ g Athletic programs? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5g ✔ Other extracurricular activities? . . . . . . . . . . . . . . . . . . . . . If you answered “Yes” to any of the above, please explain. If you need more space, use Part II. . . . . 5h ✔ h 6a Does the organization receive any financial aid or assistance from a governmental agency? . . . . . . b Has the organization’s right to such aid ever been revoked or suspended? . . . . . . . . . . . If you answered “Yes” on either line 6a or line 6b, explain on Part II. Does the organization certify that it has complied with the applicable requirements of sections 4.01 through 7 4.05 of Rev. Proc. 75-50, 1975-2 C.B. 587, covering racial nondiscrimination? If “No,” explain on Part II . . For Paperwork Reduction Act Notice, see the Instructions for Form 990 or Form 990-EZ. 5/13/2019 8:13:38 AM 37 Cat. No. 50085D 2017 Return 6a 6b ✔ 7 ✔ ✔ Schedule E (Form 990 or 990-EZ) 2017 Trustees of Dartmouth College 02-0222111 Page 2 Schedule E (Form 990 or 990-EZ) 2017 Part II Supplemental Information. Provide the explanations required by Part I, lines 3, 4d, 5h, 6b, and 7, as applicable. Also provide any other additional information. See instructions. (SEE STATEMENT) Schedule E (Form 990 or 990-EZ) 2017 5/13/2019 8:13:38 AM 38 2017 Return Trustees of Dartmouth College 02-0222111 Part II Supplemental Information. Provide the explanations required by Part I, lines 3, 4d, 5h, 6a, 6b, and 7, as applicable. Also provide any other additional information (see instructions). Return Reference - Identifier Explanation SCHEDULE E, PART I, LINE DARTMOUTH COLLEGE RECEIVED FEDERAL AND STATE FUNDING IN SUPPORT OF ITS INSTRUCTIONAL AND 6(A) - FINANCIAL AID OR RESEARCH PROGRAMS. ASSISTANCE FROM A GOVERNMENTAL AGENCY 5/13/2019 8:13:38 AM 39 2017 Return Trustees of Dartmouth College 02-0222111 SCHEDULE F (Form 990) Statement of Activities Outside the United States ▶ Department of the Treasury Internal Revenue Service OMB No. 1545-0047 2017 Complete if the organization answered “Yes” on Form 990, Part IV, line 14b, 15, or 16. ▶ Attach to Form 990. ▶ Go to www.irs.gov/Form990 for instructions and the latest information. Open to Public Inspection Employer identification number Name of the organization TRUSTEES OF DARTMOUTH COLLEGE Part I 02-0222111 General Information on Activities Outside the United States. Complete if the organization answered “Yes” on Form 990, Part IV, line 14b. 1 For grantmakers. Does the organization maintain records to substantiate the amount of its grants and other assistance, the grantees’ eligibility for the grants or assistance, and the selection criteria used to award the grants or assistance? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ✔ Yes No 2 For grantmakers. Describe in Part V the organization’s procedures for monitoring the use of its grants and other assistance outside the United States. 3 Activities per Region. (The following Part I, line 3 table can be duplicated if additional space is needed.) (a) Region (b) Number of offices in the region (c) Number of employees, agents, and independent contractors in the region 0 0 ANTARCTICA (1) CENTRAL AMERICA AND THE (2) CARIBBEAN CENTRAL AMERICA AND THE (3) CARIBBEAN CENTRAL AMERICA AND THE (4) CARIBBEAN CENTRAL AMERICA AND THE (5) CARIBBEAN PROGRAM SERVICES 0 0 0 0 0 0 1,500,480,480 0 0 PROGRAM SERVICES STUDY-ABROAD PROGRAMS PROGRAM SERVICES RESEARCH PROGRAM SERVICES EDUCATION AND EDUCATIONAL CONSULTING PROGRAM SERVICES STUDY-ABROAD PROGRAMS PROGRAM SERVICES VOLUNTEER SERVICES 0 76,384 278,686 0 663,707 0 2 1,102,373 467,444 0 410 0 84,253 FUNDRAISING 0 EUROPE (INCLUDING (14) ICELAND AND GREENLAND) EUROPE (INCLUDING (15) ICELAND AND GREENLAND) EDUCATION AND EDUCATIONAL CONSULTING INVESTMENTS 0 EUROPE (INCLUDING (12) ICELAND AND GREENLAND) EUROPE (INCLUDING (13) ICELAND AND GREENLAND) PROGRAM SERVICES 0 EAST ASIA AND THE PACIFIC (11) RESEARCH 268,813 EAST ASIA AND THE PACIFIC (10) PROGRAM SERVICES 0 EAST ASIA AND THE PACIFIC (9) RESEARCH 0 EAST ASIA AND THE PACIFIC (8) (f) Total expenditures for and investments in the region 3,642 EAST ASIA AND THE PACIFIC (7) (e) If activity listed in (d) is a program service, describe specific type of service(s) in the region INVESTMENTS EAST ASIA AND THE PACIFIC (6) (d) Activities conducted in the region (by type) (such as, fundraising, program services, investments, grants to recipients located in the region) 0 0 0 0 0 40,916 PROGRAM SERVICES RESEARCH PROGRAM SERVICES EDUCATION AND EDUCATIONAL CONSULTING PROGRAM SERVICES STUDY-ABROAD PROGRAMS PROGRAM SERVICES VOLUNTEER SERVICES 0 1,253,990 0 13 0 1,814,450 2,909,577 1,917 EUROPE (INCLUDING (16) ICELAND AND GREENLAND) (SEE STATEMENT) 0 0 30,639,376 (17) 3a Sub-total . . . . . . b Total from continuation sheets to Part I . . . . 0 15 1,540,086,418 0 2 27,129,922 0 17 c Totals (add lines 3a and 3b) INVESTMENTS 1,567,216,340 For Paperwork Reduction Act Notice, see the Instructions for Form 990. 5/13/2019 8:13:38 AM 40 Cat. No. 50082W 2017 Return Schedule F (Form 990) 2017 Trustees of Dartmouth College 02-0222111 Page 2 Grants and Other Assistance to Organizations or Entities Outside the United States. Complete if the organization answered “Yes” on Form 990, Part IV, line 15, for any recipient who received more than $5,000. Part II can be duplicated if additional space is needed. Schedule F (Form 990) 2017 Part II 1 (a) Name of organization (b) IRS code section and EIN (if applicable) (c) Region EAST ASIA AND THE PACIFIC (1) (d) Purpose of grant (e) Amount of cash grant EDUCATION (f) Manner of cash disbursement (g) Amount of noncash assistance (h) Description of noncash assistance (i) Method of valuation (book, FMV, appraisal, other) WIRE 7,432 (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) (14) (15) (16) 2 3 Enter total number of recipient organizations listed above that are recognized as charities by the foreign country, recognized as tax-exempt by the IRS, or for which the grantee or counsel has provided a section 501(c)(3) equivalency letter . . . . . . . . . . . . ▶ Enter total number of other organizations or entities . . . . . . . . . . . . . . . . . . . . . . . . . . . ▶ 1 0 Schedule F (Form 990) 2017 5/13/2019 8:13:38 AM 41 2017 Return Trustees of Dartmouth College 02-0222111 Page 3 Grants and Other Assistance to Individuals Outside the United States. Complete if the organization answered “Yes” on Form 990, Part IV, line 16. Part III can be duplicated if additional space is needed. Schedule F (Form 990) 2017 Part III (a) Type of grant or assistance (b) Region SCHOLARSHIPS/TUITION (1) REMISSION SCHOLARSHIPS/TUITION (2) REMISSION CENTRAL AMERICA AND THE CARIBBEAN SCHOLARSHIPS/TUITION (3) REMISSION SCHOLARSHIPS/TUITION (4) REMISSION EUROPE (INCLUDING ICELAND AND GREENLAND) SCHOLARSHIPS/TUITION (5) REMISSION SCHOLARSHIPS/TUITION (6) REMISSION SOUTH AMERICA SCHOLARSHIPS/TUITION (7) REMISSION SUB-SAHARAN AFRICA (c) Number of recipients (d) Amount of cash grant (f) Amount of noncash assistance (g) Description of noncash assistance (h) Method of valuation (book, FMV, appraisal, other) STUDENT 104,319 SCHOLARSHIPS STUDENT 506,691 SCHOLARSHIPS FMV STUDENT 2,824,433 SCHOLARSHIPS STUDENT 193,735 SCHOLARSHIPS FMV FMV 3 STUDENT 409,824 SCHOLARSHIPS STUDENT 52,159 SCHOLARSHIPS STUDENT 149,027 SCHOLARSHIPS FMV 9 6 EAST ASIA AND THE PACIFIC (e) Manner of cash disbursement 30 167 MIDDLE EAST AND NORTH AFRICA 11 24 SOUTH ASIA FMV FMV FMV (8) (9) (10) (11) (12) (13) (14) (15) (16) (17) (18) Schedule F (Form 990) 2017 5/13/2019 8:13:38 AM 42 2017 Return Trustees of Dartmouth College 02-0222111 Schedule F (Form 990) 2017 Part IV 1 2 3 4 5 6 Page 4 Foreign Forms Was the organization a U.S. transferor of property to a foreign corporation during the tax year? If “Yes,” the organization may be required to file Form 926, Return by a U.S. Transferor of Property to a Foreign Corporation (see Instructions for Form 926) . . . . . . . . . . . . . . . . . . . . ✔ Did the organization have an interest in a foreign trust during the tax year? If “Yes,” the organization may be required to separately file Form 3520, Annual Return To Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts, and/or Form 3520-A, Annual Information Return of Foreign Trust With a U.S. Owner (see Instructions for Forms 3520 and 3520-A; don't file with Form 990) . . Yes Yes No ✔ No Did the organization have an ownership interest in a foreign corporation during the tax year? If “Yes,” the organization may be required to file Form 5471, Information Return of U.S. Persons With Respect To Certain Foreign Corporations (see Instructions for Form 5471) . . . . . . . . . . . . . ✔ Yes No Was the organization a direct or indirect shareholder of a passive foreign investment company or a qualified electing fund during the tax year? If “Yes,” the organization may be required to file Form 8621, Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund (see Instructions for Form 8621) . . . . . . . . . . . . . . . . . . . . . . ✔ Yes No Did the organization have an ownership interest in a foreign partnership during the tax year? If “Yes,” the organization may be required to file Form 8865, Return of U.S. Persons With Respect to Certain Foreign Partnerships (see Instructions for Form 8865) . . . . . . . . . . . . . . . . ✔ Yes No Did the organization have any operations in or related to any boycotting countries during the tax year? If “Yes,” the organization may be required to separately file Form 5713, International Boycott Report (see Instructions for Form 5713; don't file with Form 990) . . . . . . . . . . . . . . . . . ✔ Yes No Schedule F (Form 990) 2017 5/13/2019 8:13:38 AM 43 2017 Return Trustees of Dartmouth College 02-0222111 Part I Activities per Region (continued) (a) Region EUROPE (INCLUDING ICELAND AND GREENLAND) (17) (b) (c) (d) (e) (f) Number of offices in Number of Activities conducted If activity listed in (d) Total expenditures the region employees, agents, in region (by type) is a program for and investments (e.g., fundraising, program and independent service, describe in region services, investments, contractors in region grants to recipients located specific type of in the region) service(s) in region 0 0 FUNDRAISING 24,588 STUDY-ABROAD PROGRAMS RESEARCH EDUCATION AND EDUCATIONAL CONSULTING STUDY-ABROAD PROGRAMS (18) MIDDLE EAST AND NORTH AFRICA 0 1 PROGRAM SERVICES (19) MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES (20) MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES NORTH AMERICA (CANADA & MEXICO ONLY) (22) NORTH AMERICA (CANADA & MEXICO ONLY) (23) NORTH AMERICA (CANADA & MEXICO ONLY) 0 0 PROGRAM SERVICES 0 0 FUNDRAISING 0 0 PROGRAM SERVICES RESEARCH 187,414 NORTH AMERICA (CANADA & MEXICO ONLY) 0 0 PROGRAM SERVICES EDUCATION AND EDUCATIONAL CONSULTING 327,032 RUSSIA AND NEIGHBORING STATES (26) RUSSIA AND NEIGHBORING STATES 0 0 PROGRAM SERVICES RESEARCH 18,436 0 0 PROGRAM SERVICES 27,716 RUSSIA AND NEIGHBORING STATES 0 0 PROGRAM SERVICES STUDY-ABROAD PROGRAMS EDUCATION AND EDUCATIONAL CONSULTING RESEARCH EDUCATION AND EDUCATIONAL CONSULTING STUDY-ABROAD PROGRAMS RESEARCH EDUCATION AND EDUCATIONAL CONSULTING STUDY-ABROAD PROGRAMS (21) (24) (25) (27) SOUTH AMERICA 0 0 PROGRAM SERVICES (29) SOUTH AMERICA 0 0 PROGRAM SERVICES (30) SOUTH AMERICA 0 1 PROGRAM SERVICES (31) SOUTH ASIA 0 0 PROGRAM SERVICES (32) SOUTH ASIA 0 0 PROGRAM SERVICES (33) SOUTH ASIA 0 0 PROGRAM SERVICES (34) (35) SUB-SAHARAN AFRICA SUB-SAHARAN AFRICA 0 0 0 0 INVESTMENTS (36) SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES (37) SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES 44 111,514 283,185 4,257 2,901 (28) 5/13/2019 8:13:38 AM 144,719 PROGRAM SERVICES RESEARCH EDUCATION AND EDUCATIONAL CONSULTING STUDY-ABROAD PROGRAMS 2017 Return 71,681 146,130 466,886 263,076 61,957 378,939 53,587 23,411,192 581,929 264,462 298,321 Trustees of Dartmouth College 02-0222111 Part V Supplemental Information. Provide the information required by Part I, line 2 (monitoring of funds); Part I, line 3, column (f) (accounting method;amounts of investments vs. expenditures per region); Part II, line 1 (accounting method); Part III (accounting method); andPart III, column (c) (estimated number of recipients), as applicable. Also complete this part to provide any additional information (see instructions). Return Reference - Identifier SCHEDULE F, PART I, LINE 2 - PROCEDURES FOR MONITORING USE OF GRANT FUNDS Explanation GRANTS DISTRIBUTED BY DARTMOUTH CONSIST PRIMARILY OF SCHOLARSHIPS, FELLOWSHIPS AND RELATED SUPPORT GIVEN TO DARTMOUTH STUDENTS. SCHOLARSHIPS ARE AWARDED BASED ON THE FINANCIAL NEED OF THE STUDENT. SCHOLARSHIP APPLICATIONS ARE REVIEWED BY A FINANCIAL AID OFFICER. FINANCIAL AID OFFICERS ARE EXPECTED TO RECUSE THEMSELVES FROM ANY CASE IN WHICH THEY EITHER HAVE A PERSONAL INTEREST OR FEEL THEY CANNOT BE IMPARTIAL. A RANDOM SAMPLING OF CASES READ BY EACH UNDERGRADUATE FINANCIAL AID OFFICER IS REVIEWED BY THE ASSOCIATE AND SENIOR ASSOCIATE DIRECTORS TO ENSURE COMPLIANCE WITH FEDERAL REGULATIONS, ADHERENCE TO DARTMOUTH POLICIES, CONSISTENCY IN RESULTS AND ACCURACY. SCHOLARSHIPS ARE CREDITED TO AN INDIVIDUAL STUDENT'S ACCOUNT THROUGH THE BANNER STUDENT INFORMATION SYSTEM AFTER THE STUDENT IS ENROLLED FOR THE TERM (THESE CREDITS ARE INCLUDED IN "NON-CASH ASSISTANCE" IN PART III ABOVE). SCHOLARSHIP FUNDS ARE WITHDRAWN IF THE STUDENT CEASES TO BE ENROLLED. FELLOWSHIPS ARE GRANTED IN SUPPORT OF A STUDENT'S EDUCATIONAL OR RESEARCH ENDEAVORS. ALL EDUCATIONAL AND RESEARCH WORK IS MONITORED BY DARTMOUTH FACULTY. SCHEDULE F, PART I, LINE ANTARCTICA: ACCRUAL 3 - METHOD TO ACCOUNT CENTRAL AMERICA AND THE CARIBBEAN: ACCRUAL FOR EXPENDITURES ON EAST ASIA AND THE PACIFIC: ACCRUAL ORG'S FINANCIAL EUROPE (INCLUDING ICELAND AND GREENLAND): ACCRUAL STATEMENTS MIDDLE EAST AND NORTH AFRICA: ACCRUAL NORTH AMERICA (CANADA & MEXICO ONLY): ACCRUAL RUSSIA AND NEIGHBORING STATES: ACCRUAL SOUTH AMERICA: ACCRUAL SOUTH ASIA: ACCRUAL SUB-SAHARAN AFRICA: ACCRUAL SCHEDULE F, PART II, EAST ASIA AND THE PACIFIC: ACCRUAL LINE 1 - METHOD TO ACCOUNT FOR EXPENDITURES ON ORG'S FINANCIAL STATEMENTS SCHEDULE F, PART III CENTRAL AMERICA AND THE CARIBBEAN: ACCRUAL METHOD TO ACCOUNT EAST ASIA AND THE PACIFIC: ACCRUAL FOR EXPENDITURES ON EUROPE (INCLUDING ICELAND AND GREENLAND): ACCRUAL ORG'S FINANCIAL MIDDLE EAST AND NORTH AFRICA: ACCRUAL STATEMENTS SOUTH AMERICA: ACCRUAL SOUTH ASIA: ACCRUAL SUB-SAHARAN AFRICA: ACCRUAL 5/13/2019 8:13:38 AM 45 2017 Return Trustees of Dartmouth College 02-0222111 SCHEDULE G (Form 990 or 990-EZ) Supplemental Information Regarding Fundraising or Gaming Activities OMB No. 1545-0047 2017 Complete if the organization answered “Yes” on Form 990, Part IV, line 17, 18, or 19, or if the organization entered more than $15,000 on Form 990-EZ, line 6a. Department of the Treasury Internal Revenue Service Attach to Form 990 or Form 990-EZ. Go to www.irs.gov/Form990 for the latest instructions. ▶ ▶ Open to Public Inspection Employer identification number Name of the organization TRUSTEES OF DARTMOUTH COLLEGE Part I 02-0222111 Fundraising Activities. Complete if the organization answered “Yes” on Form 990, Part IV, line 17. Form 990-EZ filers are not required to complete this part. 1 Indicate whether the organization raised funds through any of the following activities. Check all that apply. a ✔ Mail solicitations e ✔ Solicitation of non-government grants ✔ b f ✔ Solicitation of government grants Internet and email solicitations ✔ Phone solicitations c g ✔ Special fundraising events ✔ d In-person solicitations 2a Did the organization have a written or oral agreement with any individual (including officers, directors, trustees, or key employees listed in Form 990, Part VII) or entity in connection with professional fundraising services? ✔ Yes No b If “Yes,” list the 10 highest paid individuals or entities (fundraisers) pursuant to agreements under which the fundraiser is to be compensated at least $5,000 by the organization. (i) Name and address of individual or entity (fundraiser) (ii) Activity (iii) Did fundraiser have custody or control of contributions? Yes 1 GRENZEBACH GLIER AND ASSOCIATES INC, 401 N. MICHIGAN , SUITE 2800, CHICAGO, IL 60611 (SEE STATEMENT) (iv) Gross receipts from activity (v) Amount paid to (or retained by) fundraiser listed in col. (i) (vi) Amount paid to (or retained by) organization No ✔ 0 357,774 (357,774) 2 3 4 5 6 7 8 9 10 0 357,774 (357,774) Total . . . . . . . . . . . . . . . . . . . . . ▶ 3 List all states in which the organization is registered or licensed to solicit contributions or has been notified it is exempt from registration or licensing. MA, NH For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ. 5/13/2019 8:13:38 AM 46 Cat. No. 50083H 2017 Return Schedule G (Form 990 or 990-EZ) 2017 Trustees of Dartmouth College 02-0222111 Page 2 Schedule G (Form 990 or 990-EZ) 2017 Direct Expenses Revenue Part II 1 Gross receipts . 2 3 Less: Contributions . . Gross income (line 1 minus line 2) . . . . . . . 4 Cash prizes . 5 Noncash prizes . (b) Event #2 ATHLETICS FOOTBALL DEVELOPMENT RAFFLE (event type) (event type) . (d) Total events (add col. (a) through col. (c)) 2 (total number) 109,530 70,929 68,864 249,323 38,850 0 22,550 61,400 70,680 70,929 46,314 187,923 . 0 0 0 0 . . . 18,692 0 2,009 20,701 6 Rent/facility costs . . . 8,563 0 4,904 13,467 7 Food and beverages . . 24,865 0 4,576 29,441 8 Entertainment . . . 0 0 1,315 1,315 9 Other direct expenses . 6,405 7,214 5,782 19,401 . Direct expense summary. Add lines 4 through 9 in column (d) Net income summary. Subtract line 10 from line 3, column (d) . . . . . . . . . . . . . . . . . . . . ▶ 84,325 103,598 ▶ Gaming. Complete if the organization answered “Yes” on Form 990, Part IV, line 19, or reported more than $15,000 on Form 990-EZ, line 6a. (b) Pull tabs/instant bingo/progressive bingo (a) Bingo Direct Expenses (c) Other events . Part III . . (a) Event #1 . 10 11 Revenue Fundraising Events. Complete if the organization answered “Yes” on Form 990, Part IV, line 18, or reported more than $15,000 of fundraising event contributions and gross income on Form 990-EZ, lines 1 and 6b. List events with gross receipts greater than $5,000. 1 Gross revenue . . . . 2 Cash prizes . . . . 3 Noncash prizes . . . 4 Rent/facility costs . . . 5 Other direct expenses . . % Yes No % Yes No (d) Total gaming (add col. (a) through col. (c)) (c) Other gaming % Yes No 6 Volunteer labor . 7 Direct expense summary. Add lines 2 through 5 in column (d) . . . . . . . . ▶ 8 Net gaming income summary. Subtract line 7 from line 1, column (d) . . . . . . . . ▶ Enter the state(s) in which the organization conducts gaming activities: a Is the organization licensed to conduct gaming activities in each of these states? . b If “No,” explain: . . . . . . . . . . 9 . . Yes No 10a Were any of the organization’s gaming licenses revoked, suspended, or terminated during the tax year? b If “Yes,” explain: . Yes No . Schedule G (Form 990 or 990-EZ) 2017 5/13/2019 8:13:38 AM 47 2017 Return Trustees of Dartmouth College 02-0222111 Page 3 Schedule G (Form 990 or 990-EZ) 2017 11 12 Does the organization conduct gaming activities with nonmembers? . . . . . . . . . . . . . Is the organization a grantor, beneficiary or trustee of a trust, or a member of a partnership or other entity formed to administer charitable gaming? . . . . . . . . . . . . . . . . . . . . . . 13 a b 14 Indicate the percentage of gaming activity conducted in: 13a The organization’s facility . . . . . . . . . . . . . . . . . . . . . . . . . An outside facility . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13b Enter the name and address of the person who prepares the organization’s gaming/special events books and records: Yes No Yes No % % Name ▶ Address ▶ 15a Does the organization have a contract with a third party from whom the organization receives gaming revenue? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b If “Yes,” enter the amount of gaming revenue received by the organization ▶ amount of gaming revenue retained by the third party ▶ $ c If “Yes,” enter name and address of the third party: $ Yes No Yes No and the Name ▶ Address ▶ 16 Gaming manager information: Name ▶ Gaming manager compensation ▶ $ Description of services provided ▶ Director/officer Employee Independent contractor 17 a Mandatory distributions: Is the organization required under state law to make charitable distributions from the gaming proceeds to retain the state gaming license? . . . . . . . . . . . . . . . . . . . . . . . . . b Enter the amount of distributions required under state law to be distributed to other exempt organizations or spent in the organization’s own exempt activities during the tax year ▶ $ Part IV Supplemental Information. Provide the explanations required by Part I, line 2b, columns (iii) and (v); and Part III, lines 9, 9b, 10b, 15b, 15c, 16, and 17b, as applicable. Also provide any additional information. See instructions. Schedule G (Form 990 or 990-EZ) 2017 5/13/2019 8:13:38 AM 48 2017 Return Trustees of Dartmouth College 02-0222111 Part IV Supplemental Information. Provide the explanations required by Part I, line 2b, columns (iii) and (v), and Part III, lines 9, 9b, 10b, 15b, 15c, 16, and 17b, as applicable. Also provide any additional information (see instructions). Return Reference - Identifier Explanation SCHEDULE G, PART I, PROVIDE STRATEGIC COUNSEL TO THE ADVANCEMENT PROGRAM LINE 2B(II) - LINE 2B COLUMN (II) ACTIVITY 1 5/13/2019 8:13:38 AM 49 2017 Return Trustees of Dartmouth College 02-0222111 SCHEDULE I (Form 990) Grants and Other Assistance to Organizations, Governments, and Individuals in the United States OMB No. 1545-0047 2017 Complete if the organization answered “Yes” on Form 990, Part IV, line 21 or 22. ▶ Attach to Form 990. ▶ Go to www.irs.gov/Form990 for the latest information. Department of the Treasury Internal Revenue Service Open to Public Inspection Name of the organization Employer identification number TRUSTEES OF DARTMOUTH COLLEGE Part I 1 2 02-0222111 General Information on Grants and Assistance Does the organization maintain records to substantiate the amount of the grants or assistance, the grantees’ eligibility for the grants or assistance, and the selection criteria used to award the grants or assistance? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Describe in Part IV the organization’s procedures for monitoring the use of grant funds in the United States. Part II ✔ Yes No Grants and Other Assistance to Domestic Organizations and Domestic Governments. Complete if the organization answered “Yes” on Form 990, Part IV, line 21, for any recipient that received more than $5,000. Part II can be duplicated if additional space is needed. 1 (a) Name and address of organization (d) Amount of cash grant (e) Amount of noncash assistance (f) Method of valuation (book, FMV, appraisal, other) (b) EIN (c) IRC section (if applicable) 36-2110592 501(C)(3) 30,000 (SEE STATEMENT) 13-3731405 501(C)(3) 7,343 (SEE STATEMENT) 52-6071299 501(C)(3) 55,000 (SEE STATEMENT) 27-2518861 501(C)(3) 10,000 (SEE STATEMENT) 46-1788767 501(C)(3) 10,000 (SEE STATEMENT) 04-3524094 501(C)(3) 15,000 (SEE STATEMENT) 99-0108712 501(C)(3) 8,800 (SEE STATEMENT) 06-0646657 501(C)(3) 95,000 (SEE STATEMENT) 04-3395140 501(C)(3) 10,000 (SEE STATEMENT) 81-4133542 501(C)(3) 10,000 (SEE STATEMENT) 74-1997921 501(C)(3) 10,000 (SEE STATEMENT) or government (g) Description of noncash assistance (h) Purpose of grant or assistance (1) (SEE STATEMENT) (2) BRIDGES TO COMMUNITY, INC. 95 CROTON AVENUE, OSSINING, NY 10562 (3) CAMBRIDGE IN AMERICA PO BOX 9123 JAF BLG, NEW YORK, NY 10087-9123 (4) (SEE STATEMENT) (5) (SEE STATEMENT) (6) ECAC HOCKEY 51 S PEARL STREET, ALBANY, NY 12207 (7) FIRST PRESBYTERIAN CHURCH 45-550 KIONAOLE RD, KANEOHE, HI 96744 (8) GREENWICH COUNTRY DAY SCHOOL 401 OLD CHURCH ROAD, GREENWICH, CT 06830 (9) HARVARD BUSINESS SCHOOL SOLDIERS FIELD, BOSTON, MA 02163 (10) (SEE STATEMENT) (11) HSPVA FRIENDS 4119 MONTROSE, STE 210, HOUSTON, TX 77006 (12) (SEE STATEMENT) 2 3 Enter total number of section 501(c)(3) and government organizations listed in the line 1 table . Enter total number of other organizations listed in the line 1 table . . . . . . . . . . For Paperwork Reduction Act Notice, see the Instructions for Form 990. 5/13/2019 8:13:38 AM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ▶ ▶ 29 2 Schedule I (Form 990) (2017) Cat. No. 50055P 50 . . 2017 Return Trustees of Dartmouth College 02-0222111 Page 2 Schedule I (Form 990) (2017) Part III Grants and Other Assistance to Domestic Individuals. Complete if the organization answered “Yes” on Form 990, Part IV, line 22. Part III can be duplicated if additional space is needed. (a) Type of grant or assistance (b) Number of recipients (c) Amount of cash grant (d) Amount of noncash assistance (e) Method of valuation (book, FMV, appraisal, other) (f) Description of noncash assistance 1 SCHOLARSHIPS/TUITION REMISSION 3,710 173,570 157,569,738 FMV (SEE STATEMENT) 2 FELLOWSHIPS 1,056 12,248,744 10,404 FMV (SEE STATEMENT) 3 INTERNSHIPS 640 1,451,781 1,415 FMV 4 HEALTH INSURANCE SUBSIDY 781 0 2,307,629 FMV (SEE STATEMENT) 5 PRIZES AND AWARDS 542 470,910 37,595 FMV (SEE STATEMENT) STUDENT PAID INTERNSHIPS 6 7 Part IV Supplemental Information. Provide the information required in Part I, line 2; Part III, column (b); and any other additional information. (SEE STATEMENT) Schedule I (Form 990) (2017) 5/13/2019 8:13:38 AM 51 2017 Return Trustees of Dartmouth College 02-0222111 Part II Grants and Other Assistance to Governments and Organizations in the United States (continued) (a) (b) (c) (d) (e) (f) (g) (h) Name and address of organization or government EIN IRC section if applicable Amount of cash grant Amount of non-cash assistance Method of valuation Description of non-cash assistance Purpose of grant or assistance JANET BURROS MEMORIAL FOUNDATION 65 EAST 55TH STREET, 25TH FL, NEW YORK, NY 10022 (13) PRATHAM USA 9703 RICHMOND AVE, STE 102, HOUSTON, TX 77042 (14) PROCTOR ACADEMY PO BOX 500, ANDOVER, NH 03216 (15) PUTNAM INDIAN FIELD SCHOOL 101 INDIAN FIELD ROAD, GREENWICH, CT 06830 (16) THE ECOLINT-AMERICAN FOUNDATION 5824 STEEPLECHASE DRIVE, PLANO, TX 75093 (17) THE HILDEGARD BEHRENS FOUNDATION 276 RIVERSIDE DRIVE, STE 12-F, NEW YORK, NY 10025 (18) THE HORACE MANN SCHOOL 231 WEST 246TH STREET, BRONX, NY 10471 (19) TROUT UNLIMITED, INC. 1777 N. KENT ST, STE 100, ARLINGTON, VA 22209 (20) TRUSTEES OF AMHERST COLLEGE 22 HITCHCOCK ROAD, AMHERST, MA 01002 (21) WALNUT HILL SCHOOL FOR THE ARTS 12 HIGHLAND STREET, NATICK, MA 01760 (22) WATERSIDE SCHOOL, INC. 770 PACIFIC STREET, STAMFORD, CT 06902 (23) WORLD VISION, INC. PO BOX 9716, FEDERAL WAY, WA 980639716 (24) CITY OF LEBANON 51 NORTH PARK STREET, LEBANON, NH 03766 (25) FANNIE E RIPPEL FOUNDATION 14 MAPLE AVE, STE 200, MORRISTOWN, NJ 07960 (26) NEW HAMPSHIRE HUMANITIES 117 PLEASANT STREET, CONCORD, NH 03301 (27) THE ALBERT SCHWEITZER FELLOWSHIP 330 BROOKLINE AVE, BOSTON, MA 02215 (28) THE FROST PLACE PO BOX 74, FRANCONIA, NH 03580 (book, FMV, appraisal, other) (12) 5/13/2019 8:13:38 AM 42-1670819 501(C)(3) 18,000 DISTRIBUTION FROM DONOR ADVISED FUND 76-0620808 501(C)(3) 10,000 DISTRIBUTION FROM DONOR ADVISED FUND 02-0222179 501(C)(3) 25,000 DISTRIBUTION FROM DONOR ADVISED FUND 06-0646680 501(C)(3) 8,000 DISTRIBUTION FROM DONOR ADVISED FUND 23-7056392 501(C)(3) 10,000 DISTRIBUTION FROM DONOR ADVISED FUND 27-3202407 501(C)(3) 10,000 DISTRIBUTION FROM DONOR ADVISED FUND 13-1740455 501(C)(3) 15,000 DISTRIBUTION FROM DONOR ADVISED FUND 38-1612715 501(C)(3) 58,654 DISTRIBUTION FROM DONOR ADVISED FUND 04-2103542 501(C)3 52,000 04-2103636 501(C)(3) 30,000 DISTRIBUTION FROM DONOR ADVISED FUND DISTRIBUTION FROM DONOR ADVISED FUND 06-1609222 501(C)(3) 30,000 DISTRIBUTION FROM DONOR ADVISED FUND 95-1922279 501(C)(3) 10,000 DISTRIBUTION FROM DONOR ADVISED FUND 02-6000473 170(C)(1) 20,000 CHARITABLE CONTRIBUTION 22-1559427 501(C)(3) 6,000 CHARITABLE CONTRIBUTION 02-0317350 501(C)(3) 10,000 CHARITABLE CONTRIBUTION 13-1982786 501(C)(3) 12,500 CHARITABLE CONTRIBUTION 26-4497702 501(C)(3) 6,000 CHARITABLE CONTRIBUTION 52 2017 Return Trustees of Dartmouth College 02-0222111 (a) (b) (c) (d) (e) (f) (g) (h) Name and address of organization or government EIN IRC section if applicable Amount of cash grant Amount of non-cash assistance Method of valuation Description of non-cash assistance Purpose of grant or assistance VITAL COMMUNITIES, INC. 195 NORTH MAIN ST, WHITE RIVER JUNCTION, VT 05001 (30) HOLDEN ENTERPRISES, INC. 205 JOHNSON AVE, 2L, NEW YORK, NY 11206 (31) REIA, LLC PO BOX 22, LYME, NH 03768 (book, FMV, appraisal, other) (29) 5/13/2019 8:13:38 AM 11,110 CHARITABLE CONTRIBUTION 30-1035061 26,000 PRIZES AND AWARDS 81-5050139 17,500 PRIZES AND AWARDS 03-0355283 501(C)(3) 53 2017 Return Trustees of Dartmouth College 02-0222111 Part IV Return Reference - Identifier SCHEDULE I, PART I, LINE 2 - PROCEDURES FOR MONITORING USE OF GRANT FUNDS. Supplemental Information. Provide the information required in Part I, line 2, Part III, column (b), and any other additional information. Explanation GRANTS DISTRIBUTED BY DARTMOUTH CONSIST PRIMARILY OF SCHOLARSHIPS, FELLOWSHIPS AND RELATED SUPPORT GIVEN TO DARTMOUTH STUDENTS. SCHOLARSHIPS ARE AWARDED BASED ON THE FINANCIAL NEED OF THE STUDENT. SCHOLARSHIP APPLICATIONS ARE REVIEWED BY A FINANCIAL AID OFFICER. FINANCIAL AID OFFICERS ARE EXPECTED TO RECUSE THEMSELVES FROM ANY CASE IN WHICH THEY EITHER HAVE A PERSONAL INTEREST OR FEEL THEY CANNOT BE IMPARTIAL. A RANDOM SAMPLING OF CASES READ BY EACH UNDERGRADUATE FINANCIAL AID OFFICER IS REVIEWED BY THE ASSOCIATE AND SENIOR ASSOCIATE DIRECTORS TO ENSURE COMPLIANCE WITH FEDERAL REGULATIONS, ADHERENCE TO DARTMOUTH POLICIES, CONSISTENCY IN RESULTS AND ACCURACY. SCHOLARSHIPS ARE CREDITED TO AN INDIVIDUAL STUDENT'S ACCOUNT THROUGH THE BANNER STUDENT INFORMATION SYSTEM AFTER THE STUDENT HAS ENROLLED FOR THE TERM (THESE CREDITS ARE INCLUDED IN "NON-CASH ASSISTANCE" IN PART III ABOVE) SCHOLARSHIP FUNDS ARE WITHDRAWN IF THE STUDENT CEASES TO BE ENROLLED. FELLOWSHIPS ARE GRANTED IN SUPPORT OF A STUDENT'S EDUCATIONAL OR RESEARCH ENDEAVORS. ALL EDUCATIONAL AND RESEARCH WORK IS MONITORED BY DARTMOUTH FACULTY. THE DARTMOUTH ENTREPRENEURIAL NETWORK (DEN) HAS EDUCATIONAL AND FUNDING PROGRAMS THAT PROMOTE ENTREPRENEURSHIP WITHIN THE DARTMOUTH COLLEGE COMMUNITY. PRIZES AND AWARDS REPORTED IN PART II REPRESENT DEN PROGRAMS THAT INCLUDE STARTUP COMPETITIONS WHICH ARE OPEN TO DARTMOUTH COLLEGE STUDENTS, FACULTY, STAFF AND ALUMNI. ENTRIES ARE EVALUATED BY A GROUP OF DARTMOUTH COLLEGE ALUMNI, ENTREPRENEURS AND EXPERT BUSINESS PRACTITIONERS, ON THE BASIS OF WHICH BUSINESSES ARE MOST LIKELY TO CREATE SIGNIFICANT SOCIAL AND/OR ECONOMIC VALUE. SCHEDULE I, PART II, COLUMN A - NAME AND ADDRESS OF ORGANIZATION OR GOVERNMENT SCHEDULE I, PART II, COLUMN A - NAME AND ADDRESS OF ORGANIZATION OR GOVERNMENT SCHEDULE I, PART II, COLUMN A - NAME AND ADDRESS OF ORGANIZATION OR GOVERNMENT SCHEDULE I, PART II, COLUMN A - NAME AND ADDRESS OF ORGANIZATION OR GOVERNMENT SCHEDULE I, PART II , COLUMN H - PURPOSE OF GRANT OR ASSISTANCE SCHEDULE I, PART II , COLUMN H - PURPOSE OF GRANT OR ASSISTANCE SCHEDULE I, PART II , COLUMN H - PURPOSE OF GRANT OR ASSISTANCE SCHEDULE I, PART II , COLUMN H - PURPOSE OF GRANT OR ASSISTANCE SCHEDULE I, PART II , COLUMN H - PURPOSE OF GRANT OR ASSISTANCE SCHEDULE I, PART II , COLUMN H - PURPOSE OF GRANT OR ASSISTANCE SCHEDULE I, PART II , COLUMN H - PURPOSE OF GRANT OR ASSISTANCE SCHEDULE I, PART II , COLUMN H - PURPOSE OF GRANT OR ASSISTANCE SCHEDULE I, PART II , COLUMN H - PURPOSE OF GRANT OR ASSISTANCE SCHEDULE I, PART II , COLUMN H - PURPOSE OF GRANT OR ASSISTANCE SCHEDULE I, PART II , COLUMN H - PURPOSE OF GRANT OR ASSISTANCE 5/13/2019 8:13:38 AM AMERICAN ACADEMY OF ORTHOPEDIC SURGEONS 9400 W HIGGINS RD, ROSEMONT, IL 60018 CHILD ADVOCATES OF SW CONNECTICUT 55 GREENS FARMS ROAD, STE 200-6, WESTPORT, CT 06880 DARIEN ATHLETIC FOUNDATION INC 17 OLD KINGS HWY SOUTH, STE 140, DARIEN, CT 06820 HORIZONS AT NORWALK COMMUNITY COLLEGE INC PO BOX 244, NORWALK, CT 06853 AMERICAN ACADEMY OF ORTHOPEDIC SURGEONS: DISTRIBUTION FROM DONOR ADVISED FUND BRIDGES TO COMMUNITY, INC.: DISTRIBUTION FROM DONOR ADVISED FUND CAMBRIDGE IN AMERICA: DISTRIBUTION FROM DONOR ADVISED FUND CHILD ADVOCATES OF SW CONNECTICUT: DISTRIBUTION FROM DONOR ADVISED FUND DARIEN ATHLETIC FOUNDATION INC: DISTRIBUTION FROM DONOR ADVISED FUND ECAC HOCKEY: DISTRIBUTION FROM DONOR ADVISED FUND FIRST PRESBYTERIAN CHURCH: DISTRIBUTION FROM DONOR ADVISED FUND GREENWICH COUNTRY DAY SCHOOL: DISTRIBUTION FROM DONOR ADVISED FUND HARVARD BUSINESS SCHOOL: DISTRIBUTION FROM DONOR ADVISED FUND HORIZONS AT NORWALK COMMUNITY COLLEGE INC: DISTRIBUTION FROM DONOR ADVISED FUND HSPVA FRIENDS: DISTRIBUTION FROM DONOR ADVISED FUND 54 2017 Return Trustees of Dartmouth College 02-0222111 Return Reference - Identifier SCHEDULE I, PART III, COLUMN F - DESCRIPTION OF NON-CASH ASSISTANCE SCHEDULE I, PART III, COLUMN F - DESCRIPTION OF NON-CASH ASSISTANCE SCHEDULE I, PART III, COLUMN F - DESCRIPTION OF NON-CASH ASSISTANCE SCHEDULE I, PART III, COLUMN F - DESCRIPTION OF NON-CASH ASSISTANCE 5/13/2019 8:13:38 AM Explanation SCHOLARSHIPS/TUITION REMISSION: STUDENT SCHOLARSHIPS/TUITION REMISSION AND EMPLOYEE TUITION REIMBURSEMENT FELLOWSHIPS: STUDENT FELLOWSHIPS/EMPLOYMENT HEALTH INSURANCE SUBSIDY: SUBSIDIZE HEALTH INSURANCE COST FOR GRADUATE STUDENTS PRIZES AND AWARDS: ACHIEVEMENT RECOGNITION AWARDS TO INDIVIDUAL STUDENTS 55 2017 Return Trustees of Dartmouth College 02-0222111 SCHEDULE J (Form 990) Department of the Treasury Internal Revenue Service Name of the organization Compensation Information OMB No. 1545-0047 2017 For certain Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees ▶ Complete if the organization answered “Yes” on Form 990, Part IV, line 23. ▶ Attach to Form 990. ▶ Go to www.irs.gov/Form990 for instructions and the latest information. Open to Public Inspection Employer identification number TRUSTEES OF DARTMOUTH COLLEGE Part I 02-0222111 Questions Regarding Compensation Yes 1a Check the appropriate box(es) if the organization provided any of the following to or for a person listed on Form 990, Part VII, Section A, line 1a. Complete Part III to provide any relevant information regarding these items. ✔ ✔ ✔ First-class or charter travel Travel for companions Tax indemnification and gross-up payments Discretionary spending account ✔ ✔ Housing allowance or residence for personal use Payments for business use of personal residence Health or social club dues or initiation fees Personal services (such as, maid, chauffeur, chef) b If any of the boxes on line 1a are checked, did the organization follow a written policy regarding payment or reimbursement or provision of all of the expenses described above? If “No,” complete Part III to explain . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Did the organization require substantiation prior to reimbursing or allowing expenses incurred by all directors, trustees, and officers, including the CEO/Executive Director, regarding the items checked on line 1a? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 No 1b ✔ 2 ✔ 4a 4b 4c ✔ Indicate which, if any, of the following the filing organization used to establish the compensation of the organization’s CEO/Executive Director. Check all that apply. Do not check any boxes for methods used by a related organization to establish compensation of the CEO/Executive Director, but explain in Part III. ✔ ✔ 4 Compensation committee Independent compensation consultant Form 990 of other organizations ✔ ✔ ✔ Written employment contract Compensation survey or study Approval by the board or compensation committee During the year, did any person listed on Form 990, Part VII, Section A, line 1a, with respect to the filing organization or a related organization: a Receive a severance payment or change-of-control payment? . . . . . . . . . . . . . . . b Participate in, or receive payment from, a supplemental nonqualified retirement plan? . . . . . . . c Participate in, or receive payment from, an equity-based compensation arrangement? . . . . . . . If “Yes” to any of lines 4a–c, list the persons and provide the applicable amounts for each item in Part III. ✔ ✔ Only section 501(c)(3), 501(c)(4), and 501(c)(29) organizations must complete lines 5–9. For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any compensation contingent on the revenues of: 5 a The organization? . . . . . . . . . b Any related organization? . . . . . . If “Yes” on line 5a or 5b, describe in Part III. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5a 5b . . . . . . 6a 6b ✔ ✔ For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any compensation contingent on the net earnings of: 6 a The organization? . . . . . . . . . b Any related organization? . . . . . . If “Yes” on line 6a or 6b, describe in Part III. 7 8 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . For persons listed on Form 990, Part VII, Section A, line 1a, did the organization provide any nonfixed payments not described on lines 5 and 6? If “Yes,” describe in Part III . . . . . . . . . . . . . 7 Were any amounts reported on Form 990, Part VII, paid or accrued pursuant to a contract that was subject to the initial contract exception described in Regulations section 53.4958-4(a)(3)? If “Yes,” describe in Part III . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 If “Yes” on line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53.4958-6(c)? . . . . . . . . . . . . . . . . . . . . . . . . 9 For Paperwork Reduction Act Notice, see the Instructions for Form 990. 5/13/2019 8:13:38 AM 56 Cat. No. 50053T 2017 Return ✔ ✔ ✔ ✔ Schedule J (Form 990) 2017 Trustees of Dartmouth College 02-0222111 Schedule J (Form 990) 2017 Part II Page 2 Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees. Use duplicate copies if additional space is needed. For each individual whose compensation must be reported on Schedule J, report compensation from the organization on row (i) and from related organizations, described in the instructions, on row (ii). Do not list any individuals that aren't listed on Form 990, Part VII. Note: The sum of columns (B)(i)–(iii) for each listed individual must equal the total amount of Form 990, Part VII, Section A, line 1a, applicable column (D) and (E) amounts for that individual. (B) Breakdown of W-2 and/or 1099-MISC compensation (i) Base compensation (A) Name and Title PHILIP HANLON 1 PRESIDENT CAROLYN DEVER 2 PROVOST (THROUGH 11/2017) DAVID KOTZ 3 INTERIM PROVOST (FROM 11/2017) (i) (ii) (i) (ii) (i) (ii) MICHAEL WAGNER 5 CFO (i) (ii) (i) (ii) DUANE COMPTON 6 DEAN, GEISEL (i) (ii) RICHARD MILLS 4 EVP SANDHYA IYER 7 GENERAL COUNSEL (FROM 7/2017) ROBERT LASHER 8 SR VP FOR ADVANCEMENT ELIZABETH SMITH 9 DEAN OF FACULTY (FROM 7/2017) ALICE RUTH 10 CHIEF INVEST OFFICER (FROM 4/2017) MATTHEW SLAUGHTER 11 DEAN, TUCK SCHOOL OF BUSINESS STEVEN MOORE 12 INTERIM VP CAMPUS SERVICES ALAN GREEN 13 CHAIR, DEPARTMENT OF PSYCHOLOGY KELSEY MORGAN 14 DEP CHIEF INVESTMENT OFFICER MEGAN HAMMOND 15 MNG DIRECTOR, INVESTMENT OFFICE (SEE STATEMENT) 16 (i) (ii) (i) (ii) (i) (ii) (i) (ii) (i) (ii) (i) (ii) (i) (ii) (i) (ii) (i) (ii) 1,005,436 0 739,993 0 365,089 0 670,476 0 400,322 0 622,216 0 192,358 0 510,054 0 325,302 0 579,866 0 833,974 0 247,157 0 673,372 0 376,453 0 340,785 0 (ii) Bonus & incentive compensation 0 0 0 0 0 0 0 0 0 0 150,000 0 0 0 74,506 0 0 0 87,500 0 0 0 0 0 0 0 496,072 0 431,477 0 (iii) Other reportable compensation 178,273 0 7,402 0 998 0 594 0 684 0 74 0 10 0 174 0 242 0 773 0 14 0 643 0 0 0 1,299 0 1,668 0 (C) Retirement and other deferred compensation 184,300 0 24,300 0 24,300 0 24,300 0 24,300 0 24,300 0 20,850 0 24,300 0 24,300 0 24,300 0 24,300 0 22,734 0 24,300 0 18,900 0 24,300 0 (D) Nontaxable benefits 63,332 0 32,544 0 14,608 0 14,086 0 17,491 0 10,729 0 5,975 0 5,947 0 4,497 0 0 0 11,917 0 5,947 0 8,123 0 15,662 0 17,383 0 (F) Compensation in column (B) reported as deferred on prior Form 990 (E) Total of columns (B)(i)–(D) 1,431,341 0 804,239 0 404,995 0 709,456 0 442,797 0 807,319 0 219,193 0 614,981 0 354,341 0 692,439 0 870,205 0 276,481 0 705,795 0 908,386 0 815,613 0 120,000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (i) (ii) Schedule J (Form 990) 2017 5/13/2019 8:13:38 AM 57 2017 Return Trustees of Dartmouth College 02-0222111 Part II Officers, Directors, Trustees, Key Employees and Highest Compensated Employees (continued) (a) (b) Name MICHAEL SULLIVAN MNG DIRECTOR, INVESTMENT OFFICE (16) ANAND DESAI MNG DIRECTOR, INVESTMENT OFFICE (17) MARTIN WYBOURNE SR. VP RSRCH; FM INTERIM PROVOST (18) ANN ROOT KEITH COO ADV; FMR INTERIM VP DEV (19) WILEY SOUBA PROF & FMR DEAN, GEISEL (20) PAMELA PEEDIN FMR CIO (THRU 03/2017) (21) MICHAEL MASTANDUNO FMR DEAN OF FAC (THRU 06/2017) (22) ROBERT DONIN FMR GENERAL COUNSEL (THRU 06/2017) (23) 5/13/2019 8:13:38 AM (i) (ii) (i) (ii) (i) (ii) (i) (ii) (i) (ii) (i) (ii) (i) (ii) (i) (ii) Breakdown of W-2 and/or 1099-MISC compensation (i) Base (ii) Bonus & (iii) Other Compensation incentive reportable compensation compensation 325,843 439,202 1,169 0 0 0 311,875 363,075 1,155 0 0 0 390,434 0 350 0 0 0 304,466 0 188 0 0 0 381,938 0 0 0 0 0 220,503 645,000 36,692 0 0 0 392,101 0 1,761 0 0 0 293,736 0 48,029 0 0 0 58 (c) (d) (e) (f) Retirement and other deferred compensation Nontaxable benefits Total of columns (b)(i)-(d) Compensation reported in prior Form 990 or Form 990-EZ 24,300 0 24,300 0 24,300 0 24,300 0 24,300 0 19,888 0 24,300 0 24,300 0 2017 Return 15,680 0 635 0 9,465 0 12,946 0 11,720 0 0 0 16,041 0 3,195 0 806,194 0 701,040 0 424,549 0 341,900 0 417,958 0 922,083 0 434,203 0 369,260 0 Trustees of Dartmouth College 02-0222111 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Part III Supplemental Information. Provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 3, 4a, 4b, 4c, 5a, 5b, 6a, 6b, 7, and 8, and for Part II. Also complete this part for any additional information. Return Reference - Identifier Explanation SCHEDULE J, PART I, LINE DARTMOUTH TRAVEL POLICY ALLOWS FOR FIRST OR BUSINESS CLASS AIR TRAVEL FOR BUSINESS 1A - FIRST-CLASS OR PURPOSES IN LIMITED CIRCUMSTANCES. CONSISTENT WITH THIS POLICY, ON INFREQUENT OCCASIONS CHARTER TRAVEL SENIOR OFFICERS FLEW FIRST CLASS WITH THE PRESIDENT'S APPROVAL. THE LACK OF A MAJOR COMMERCIAL AIRPORT WITHIN 80 MILES OF DARTMOUTH REQUIRES USE OF CHARTER AIR TRAVEL TO FULFILL THE BUSINESS TRAVEL REQUIREMENTS OF THE PRESIDENT. FOR THIS REASON, THE PRESIDENT AND CERTAIN SENIOR OFFICERS HAD ACCESS FOR BUSINESS PURPOSES TO CHARTER FLIGHT SERVICE, THE COST OF WHICH WAS FULLY DEFRAYED BY PRIVATE DONATIONS DESIGNATED FOR THIS PURPOSE. SCHEDULE J, PART I, LINE DARTMOUTH PROVIDED HOUSING FOR THE PRESIDENT AND PROVOST. THESE ARRANGEMENTS WERE FOR 1A - HOUSING DARTMOUTH'S CONVENIENCE AND A CONDITION OF EMPLOYMENT AND THEREFORE WERE NOT TAXABLE ALLOWANCE OR TO THE INDIVIDUALS. RESIDENCE FOR PERSONAL USE SCHEDULE J, PART I, LINE DARTMOUTH PROVIDED HOUSEKEEPING SERVICES FOR CLEANING AND MAINTAINING THE PRESIDENT'S 1A - PERSONAL SERVICES HOUSE. THE VALUE OF SERVICES PROVIDED FOR PERSONAL LIVING SPACE WAS RECOGNIZED AS IMPUTED INCOME TO THE PRESIDENT. SCHEDULE J, PART I, LINE DURING CALENDAR 2017, DARTMOUTH ELECTED TO PAY THE TAX OBLIGATIONS THAT AROSE FROM 1A - TAX CERTAIN COMPENSATION TRANSACTIONS FOR FOUR INDIVIDUALS. THESE PAYMENTS WERE TREATED AS INDEMNIFICATION AND TAXABLE COMPENSATION. GROSS-UP PAYMENTS SCHEDULE J, PART I, LINE THE PRESIDENT'S WIFE, WHO IS ALSO AN EMPLOYEE OF DARTMOUTH, TRAVELED WITH HIM FOR BUSINESS 1A - TRAVEL FOR PURPOSES INCLUDING PARTICIPATING IN ALUMNI EVENTS AND MEETINGS WITH KEY CONSTITUENT COMPANIONS DONORS ON DARTMOUTH'S BEHALF. SCHEDULE J, PART I, LINE DARTMOUTH PROVIDED THE PRESIDENT WITH A NONQUALIFIED 457(F) SUPPLEMENTAL RETIREMENT PLAN. 4B - SUPPLEMENTAL THE PLAN PROVIDED FOR ANNUAL CREDITS TO THE PLAN SUBJECT TO VESTING REQUIREMENTS BASED NONQUALIFIED ON CONTINUATION OF EMPLOYMENT THROUGH SET DATES. THE PRESIDENT RECEIVED $160,000, AND RETIREMENT PLAN ACCRUED $160,000 RELATIVE TO THE PLAN DURING THE CALENDAR YEAR 2017. $120,000 OF THE DEFERRED COMPENSATION RECEIVED HAD BEEN REPORTED IN PRIOR YEARS, AS REFLECTED IN COLUMN F. SCHEDULE J, PART I, LINE A PORTION OF THE INCENTIVE BONUS FOR INVESTMENT OFFICE EMPLOYEES IS BASED ON MEETING 5A - COMPENSATION CERTAIN RETURN TARGETS. CONTINGENT ON REVENUES OF THE A PORTION OF THE PERFORMANCE BONUS FOR THE SR. VP OF ADVANCEMENT IS BASED ON ACHIEVING ORGANIZATION CERTAIN ADVANCEMENT GOALS. SCHEDULE J, PART I, LINE ROBERT LASHER, SENIOR VICE PRESIDENT FOR ADVANCEMENT, RECEIVED A PERFORMANCE BONUS OF 7 - NON-FIXED PAYMENTS $74,506 DURING CALENDAR YEAR 2017. PAMELA PEEDIN, FORMER CHIEF INVESTMENT OFFICER, RECEIVED INCENTIVE COMPENSATION OF $645,000 DURING CALENDAR YEAR 2017. KELSEY MORGAN, DEPUTY CHIEF INVESTMENT OFFICER, RECEIVED INCENTIVE COMPENSATION OF $496,072 DURING CALENDAR YEAR 2017. MEGAN HAMMOND, MANAGING DIRECTOR IN THE INVESTMENT OFFICE, RECEIVED INCENTIVE COMPENSATION OF $431,477 DURING CALENDAR YEAR 2017. MICHAEL SULLIVAN, MANAGING DIRECTOR IN THE INVESTMENT OFFICE, RECEIVED INCENTIVE COMPENSATION OF $439,202 DURING CALENDAR YEAR 2017. ANAND DESAI, MANAGING DIRECTOR IN THE INVESTMENT OFFICE, RECEIVED INCENTIVE COMPENSATION OF $363,075 DURING CALENDAR YEAR 2017. ALICE RUTH, CHIEF INVESTMENT OFFICER, RECEIVED A SIGNING BONUS OF $87,500 DURING CALENDAR YEAR 2017. DUANE COMPTON, DEAN OF GEISEL SCHOOL OF MEDICINE, RECEIVED A SIGNING BONUS OF $150,000 DURING CALENDAR YEAR 2017. 5/13/2019 8:13:38 AM 59 2017 Return Trustees of Dartmouth College 02-0222111 SCHEDULE K (Form 990) OMB No. 1545-0047 Supplemental Information on Tax-Exempt Bonds ▶ Complete Department of the Treasury Internal Revenue Service 2017 if the organization answered “Yes” on Form 990, Part IV, line 24a. Provide descriptions, explanations, and any additional information in Part VI. ▶ Attach to Form 990. ▶ Go to www.irs.gov/Form990 for instructions and the latest information. Open to Public Inspection Employer identification number Name of the organization TRUSTEES OF DARTMOUTH COLLEGE Part I Bond Issues (a) Issuer name A B C D 02-0222111 (b) Issuer EIN (c) CUSIP # (d) Date issued NEW HAMPSHIRE HEALTH & EDUC FACILITIES AUTHORITY 02-0279866 644614FP9 03/12/2003 NEW HAMPSHIRE HEALTH & EDUC FACILITIES AUTHORITY 02-0279866 644614RV3 04/05/2007 90,000,000 (SEE STATEMENT) NEW HAMPSHIRE HEALTH & EDUC FACILITIES AUTHORITY 02-0279866 644614YG8 06/18/2009 207,389,690 (SEE STATEMENT) NEW HAMPSHIRE HEALTH & EDUC FACILITIES AUTHORITY 02-0279866 08/06/2015 101,000,000 REFUND 04-01-02 SERIES 2002 ISSUE Part II (e) Issue price (f) Description of purpose Yes No Yes No Yes No 113,250,000 REFUND 6-1-93 ISSUE ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ A 14 15 16 17 Were the bonds issued as part of a current refunding issue? . . . . . . Were the bonds issued as part of an advance refunding issue? . . . . . Has the final allocation of proceeds been made? . . . . . . . . . . Does the organization maintain adequate books and records to support the final allocation of proceeds? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . B 0 0 1,125,000 0 0 0 1,125,000 0 0 0 0 0 Yes No C 0 0 93,437,682 0 3,437,682 0 471,429 0 0 89,528,571 0 0 2009 Yes ✔ ✔ D 0 190,955,000 164,890,998 0 152,473 0 1,042,393 0 0 163,696,132 0 0 2012 No Yes ✔ ✔ No 0 0 101,000,000 0 0 0 0 0 0 0 101,000,000 0 2005 Yes No ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ Private Business Use A 2 (i) Pooled financing Proceeds Amount of bonds retired . . . . . . . Amount of bonds legally defeased . . . Total proceeds of issue . . . . . . . Gross proceeds in reserve funds . . . . Capitalized interest from proceeds . . . Proceeds in refunding escrows . . . . . Issuance costs from proceeds . . . . . Credit enhancement from proceeds . . . Working capital expenditures from proceeds Capital expenditures from proceeds . . . Other spent proceeds . . . . . . . . Other unspent proceeds . . . . . . . Year of substantial completion . . . . . 1 (h) On behalf of issuer ✔ 1 2 3 4 5 6 7 8 9 10 11 12 13 Part III (g) Defeased Was the organization a partner in a partnership, or a member of an LLC, which owned property financed by tax-exempt bonds? . . . . . . . . Are there any lease arrangements that may result in private business use of bond-financed property? . . . . . . . . . . . . . . . . . . For Paperwork Reduction Act Notice, see the Instructions for Form 990. 5/13/2019 8:13:38 AM Yes B No Yes ✔ ✔ C No Yes ✔ ✔ Yes ✔ No ✔ ✔ ✔ Schedule K (Form 990) 2017 Cat. No. 50193E 60 D No 2017 Return Trustees of Dartmouth College 02-0222111 Page 2 Schedule K (Form 990) 2017 Part III Private Business Use (Continued) A 3a Are there any management or service contracts that may result in private business use of bond-financed property? . . . . . . . . . . . . Yes B No Yes C No ✔ Yes D No ✔ Yes No ✔ ✔ b If “Yes” to line 3a, does the organization routinely engage bond counsel or other outside counsel to review any management or service contracts relating to the financed property? c Are there any research agreements that may result in private business use of bond-financed property? . . . . . . . . . . . . . . . . . . ✔ d If “Yes” to line 3c, does the organization routinely engage bond counsel or other outside counsel to review any research agreements relating to the financed property? 4 Enter the percentage of financed property used in a private business use by entities other than a section 501(c)(3) organization or a state or local government . . . ▶ 5 Enter the percentage of financed property used in a private business use as a result of unrelated trade or business activity carried on by your organization, another section 501(c)(3) organization, or a state or local government . . . ▶ Total of lines 4 and 5 . . . . . . . . . . . . . . . . . . . Does the bond issue meet the private security or payment test? . . . . . 6 7 8a b c 9 Part IV ✔ ✔ ✔ 0.69 % 0.64 % 0.00 % % 0.00 % 0.69 % 0.03 % 0.67 % 0.00 % 0.00 % ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ % % % % . . ✔ ✔ No Yes ✔ ✔ ✔ ✔ Arbitrage A 1 Has the issuer filed Form 8038-T, Arbitrage Rebate, Yield Reduction Penalty in Lieu of Arbitrage Rebate? . . . . . . . . . . . . 2 If “No” to line 1, did the following apply? a Rebate not due yet? . . . . . . . . . . . . . . . . . b Exception to rebate? . . . . . . . . . . . . . . . . . c No rebate due? . . . . . . . . . . . . . . . . . . . and . . . . . . . . If “Yes” to line 2c, provide in Part VI the date the rebate computation was performed . . . . . . . . . . . . . . . . . . . . . . Is the bond issue a variable rate issue? . . . . . . . . . . . . . 3 ✔ % 0.00 % Has there been a sale or disposition of any of the bond-financed property to a nongovernmental person other than a 501(c)(3) organization since the bonds were issued? If “Yes” to line 8a, enter the percentage of bond-financed property sold or disposed of . . . . . . . . . . . . . . . . . . . . . . If “Yes” to line 8a, was any remedial action taken pursuant to Regulations sections 1.141-12 and 1.145-2? . . . . . . . . . . . . . . Has the organization established written procedures to ensure that all nonqualified bonds of the issue are remediated in accordance with the requirements under Regulations sections 1.141-12 and 1.145-2? . . . ✔ 4a Has the organization or the governmental issuer entered hedge with respect to the bond issue? . . . . . . . b Name of provider . . . . . . . . . . . . . . c Term of hedge . . . . . . . . . . . . . . . d Was the hedge superintegrated? . . . . . . . . . e Was the hedge terminated? . . . . . . . . . . . into . . . . . . . . . . a qualified . . . . . . . . . . . . . . . . . . . . Yes B C No Yes D No Yes ✔ ✔ ✔ ✔ ✔ ✔ ✔ No ✔ ✔ ✔ ✔ 11/08/2013 ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ Schedule K (Form 990) 2017 5/13/2019 8:13:38 AM 61 2017 Return Trustees of Dartmouth College 02-0222111 Page 3 Schedule K (Form 990) 2017 Part IV Arbitrage (Continued) A Yes 5a b c d 6 7 Were gross proceeds invested in a guaranteed investment contract (GIC)? . Name of provider . . . . . . . . . . . . . . . . . . . . Term of GIC . . . . . . . . . . . . . . . . . . . . . . Was the regulatory safe harbor for establishing the fair market value of the GIC satisfied? Were any gross proceeds invested beyond an available temporary period? . Has the organization established written procedures to monitor the requirements of section 148? . . . . . . . . . . . . . . . . Part V B No Yes Yes D No Yes No ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ Procedures To Undertake Corrective Action A Has the organization established written procedures to ensure that violations of federal tax requirements are timely identified and corrected through the voluntary closing agreement program if self-remediation isn’t available under applicable regulations? . . . . . . . . . . . . . . . . . . Part VI C No Yes ✔ B No Yes C No Yes ✔ ✔ D No Yes No ✔ Supplemental Information. Provide additional information for responses to questions on Schedule K. See instructions Schedule K (Form 990) 2017 5/13/2019 8:13:38 AM 62 2017 Return Trustees of Dartmouth College 02-0222111 SCHEDULE K (Form 990) OMB No. 1545-0047 Supplemental Information on Tax-Exempt Bonds ▶ Complete Department of the Treasury Internal Revenue Service 2017 if the organization answered “Yes” on Form 990, Part IV, line 24a. Provide descriptions, explanations, and any additional information in Part VI. ▶ Attach to Form 990. ▶ Go to www.irs.gov/Form990 for instructions and the latest information. Open to Public Inspection Employer identification number Name of the organization TRUSTEES OF DARTMOUTH COLLEGE Part I Bond Issues (a) Issuer name A B C 02-0222111 (b) Issuer EIN (c) CUSIP # (d) Date issued (e) Issue price (f) Description of purpose (i) Pooled financing Yes No Yes No Yes No 02-0279866 08/06/2015 ✔ ✔ ✔ NEW HAMPSHIRE HEALTH & EDUC FACILITIES AUTHORITY 02-0279866 04/29/2016 165,000,000 PARTIALLY DEFEASED 06-18-09 09A ISSUE ✔ ✔ ✔ NEW HAMPSHIRE HEALTH & EDUC FACILITIES AUTHORITY 02-0279866 12/21/2017 37,660,000 PARTIALLY DEFEASED 06-18-09 09A ISSUE ✔ ✔ ✔ D 89,665,000 REFUND 04-05-07 SERIES 07A ISSUE Proceeds A 1 2 3 4 5 6 7 8 9 10 11 12 13 Amount of bonds retired . . . . . . . Amount of bonds legally defeased . . . Total proceeds of issue . . . . . . . Gross proceeds in reserve funds . . . . Capitalized interest from proceeds . . . Proceeds in refunding escrows . . . . . Issuance costs from proceeds . . . . . Credit enhancement from proceeds . . . Working capital expenditures from proceeds Capital expenditures from proceeds . . . Other spent proceeds . . . . . . . . Other unspent proceeds . . . . . . . Year of substantial completion . . . . . 14 15 16 17 Were the bonds issued as part of a current refunding issue? . . . . . . Were the bonds issued as part of an advance refunding issue? . . . . . Has the final allocation of proceeds been made? . . . . . . . . . . Does the organization maintain adequate books and records to support the final allocation of proceeds? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Part III B 0 0 89,665,000 0 0 0 0 0 0 0 89,665,000 0 2009 Yes No C 0 0 165,000,000 0 0 165,000,000 0 0 0 0 0 0 2012 Yes No ✔ ✔ D 0 0 47,291,168 0 0 46,939,540 351,628 0 0 0 0 0 2012 Yes No ✔ Yes No ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ Private Business Use A 2 (h) On behalf of issuer NEW HAMPSHIRE HEALTH & EDUC FACILITIES AUTHORITY Part II 1 (g) Defeased Was the organization a partner in a partnership, or a member of an LLC, which owned property financed by tax-exempt bonds? . . . . . . . . Are there any lease arrangements that may result in private business use of bond-financed property? . . . . . . . . . . . . . . . . . . For Paperwork Reduction Act Notice, see the Instructions for Form 990. 5/13/2019 8:13:38 AM Yes B No Yes ✔ ✔ C No Yes ✔ ✔ ✔ ✔ Yes No Schedule K (Form 990) 2017 Cat. No. 50193E 63 D No 2017 Return Trustees of Dartmouth College 02-0222111 Page 2 Schedule K (Form 990) 2017 Part III Private Business Use (Continued) A 3a Are there any management or service contracts that may result in private business use of bond-financed property? . . . . . . . . . . . . Yes B No Yes C No ✔ Yes D No ✔ Yes No ✔ b If “Yes” to line 3a, does the organization routinely engage bond counsel or other outside counsel to review any management or service contracts relating to the financed property? c Are there any research agreements that may result in private business use of bond-financed property? . . . . . . . . . . . . . . . . . . ✔ d If “Yes” to line 3c, does the organization routinely engage bond counsel or other outside counsel to review any research agreements relating to the financed property? 4 Enter the percentage of financed property used in a private business use by entities other than a section 501(c)(3) organization or a state or local government . . . ▶ 5 Enter the percentage of financed property used in a private business use as a result of unrelated trade or business activity carried on by your organization, another section 501(c)(3) organization, or a state or local government . . . ▶ Total of lines 4 and 5 . . . . . . . . . . . . . . . . . . . Does the bond issue meet the private security or payment test? . . . . . 6 7 8a b c 9 Has there been a sale or disposition of any of the bond-financed property to a nongovernmental person other than a 501(c)(3) organization since the bonds were issued? If “Yes” to line 8a, enter the percentage of bond-financed property sold or disposed of . . . . . . . . . . . . . . . . . . . . . . If “Yes” to line 8a, was any remedial action taken pursuant to Regulations sections 1.141-12 and 1.145-2? . . . . . . . . . . . . . . Has the organization established written procedures to ensure that all nonqualified bonds of the issue are remediated in accordance with the requirements under Regulations sections 1.141-12 and 1.145-2? . . . Part IV ✔ ✔ ✔ ✔ 0.86 % 0.00 % 0.00 % % 0.00 % 0.86 % 0.00 % 0.00 % 0.00 % 0.00 % % % ✔ ✔ ✔ ✔ ✔ ✔ % % % . . ✔ ✔ ✔ Arbitrage A 1 Has the issuer filed Form 8038-T, Arbitrage Rebate, Yield Reduction Penalty in Lieu of Arbitrage Rebate? . . . . . . . . . . . . 2 If “No” to line 1, did the following apply? a Rebate not due yet? . . . . . . . . . . . . . . . . . b Exception to rebate? . . . . . . . . . . . . . . . . . c No rebate due? . . . . . . . . . . . . . . . . . . . and . . . . . . . . If “Yes” to line 2c, provide in Part VI the date the rebate computation was performed . . . . . . . . . . . . . . . . . . . . . . Is the bond issue a variable rate issue? . . . . . . . . . . . . . 3 % 4a Has the organization or the governmental issuer entered hedge with respect to the bond issue? . . . . . . . b Name of provider . . . . . . . . . . . . . . c Term of hedge . . . . . . . . . . . . . . . d Was the hedge superintegrated? . . . . . . . . . e Was the hedge terminated? . . . . . . . . . . . into . . . . . . . . . . a qualified . . . . . . . . . . . . . . . . . . . . Yes B No Yes C No ✔ ✔ ✔ No ✔ ✔ ✔ ✔ 12/21/2017 ✔ ✔ Yes ✔ ✔ 04/29/2016 ✔ D No ✔ ✔ ✔ Yes ✔ ✔ ✔ Schedule K (Form 990) 2017 5/13/2019 8:13:38 AM 64 2017 Return Trustees of Dartmouth College 02-0222111 Page 3 Schedule K (Form 990) 2017 Part IV Arbitrage (Continued) A Yes 5a b c d 6 7 Were gross proceeds invested in a guaranteed investment contract (GIC)? . Name of provider . . . . . . . . . . . . . . . . . . . . Term of GIC . . . . . . . . . . . . . . . . . . . . . . Was the regulatory safe harbor for establishing the fair market value of the GIC satisfied? Were any gross proceeds invested beyond an available temporary period? . Has the organization established written procedures to monitor the requirements of section 148? . . . . . . . . . . . . . . . . Part V B No Yes Yes D No ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ Yes No ✔ Procedures To Undertake Corrective Action A Has the organization established written procedures to ensure that violations of federal tax requirements are timely identified and corrected through the voluntary closing agreement program if self-remediation isn’t available under applicable regulations? . . . . . . . . . . . . . . . . . . Part VI C No Yes ✔ B No Yes C No Yes ✔ D No Yes No ✔ Supplemental Information. Provide additional information for responses to questions on Schedule K. See instructions (SEE STATEMENT) Schedule K (Form 990) 2017 5/13/2019 8:13:38 AM 65 2017 Return Trustees of Dartmouth College 02-0222111 Part VI Return Reference - Identifier SCHEDULE K, PART I, COLUMN (F) DESCRIPTION OF PURPOSE ISSUER NAME: NEW HAMPSHIRE HEALTH & EDUC FACILITIES AUTHORITY SCHEDULE K, PART I, COLUMN (F) DESCRIPTION OF PURPOSE ISSUER NAME: NEW HAMPSHIRE HEALTH & EDUC FACILITIES AUTHORITY SCHEDULE K, PART II, LINE 2 - COLUMN C SCHEDULE K, PART II, LINE 3 - COLUMN A SCHEDULE K, PART II, LINE 3 - COLUMN B SCHEDULE K, PART II, LINE 3 - COLUMN C SCHEDULE K, PART II, LINE 3 - PAGE 2, COLUMN A SCHEDULE K, PART II, LINE 3 - PAGE 2, COLUMN C SCHEDULE K, PART IV, LINE 2C - COLUMN B SCHEDULE K, PART IV, LINE 2C - COLUMN C SCHEDULE K, PART IV, LINE 2C - COLUMN C SCHEDULE K, PART IV, LINE 2C - COLUMN C SCHEDULE K, PART IV, LINE 2C - PAGE 2, COLUMN B SCHEDULE K, PART IV, LINE 2C - PAGE 2, COLUMN C 5/13/2019 8:13:38 AM Supplemental Information. Supplemental Information Complete this part to provide additional information for responses to questions on Schedule K (see instructions). Explanation ISSUE COST, NEW CONSTRUCTION, CAPITAL RENOVATIONS, EQUIPMENT REFUND 12-17-98 & 12-1-99 ISSUES, ISSUE COST, NEW CONSTRUCTION, CAPITAL RENOVATION $146,075,000 OF THE SERIES 2009 ISSUE WAS DEFEASED BY 2016A ISSUE ON APRIL 29, 2016. THE DIFFERENCE BETWEEN ISSUE PRICE AND TOTAL PROCEEDS = ($112,125,000) TO REFINANCE PRIOR ISSUE. THE DIFFERENCE BETWEEN ISSUE PRICE AND TOTAL PROCEEDS EQUALS $3,437,682 OF INVESTMENT INCOME. THE DIFFERENCE BETWEEN ISSUE PRICE AND TOTAL PROCEEDS EQUALS THE SUM OF ($42,651,166) TO REFINANCE PRIOR ISSUES AND $152,473 OF INVESTMENT INCOME. THE OUTSTANDING BALANCE OF THE 2007A ISSUE ($89,665,000) WAS REFUNDED BY THE 2015C ($45,000,000) AND 2015D ($44,665,000) ISSUES ON AUGUST 6, 2015. THE DIFFERENCE BETWEEN ISSUE PRICE AND TOTAL PROCEEDS WAS THE ORIGINAL ISSUE PREMIUM $9,631,168. ISSUER NAME: NEW HAMPSHIRE HEALTH & EDUC FACILITIES AUTHORITY THE CALCULATION FOR COMPUTING NO REBATE DUE WAS PERFORMED ON 04/29/2016 THE COMPUTATION PERIOD WAS JUNE 19, 2009 THROUGH JUNE 18, 2013. ISSUER NAME: NEW HAMPSHIRE HEALTH & EDUC FACILITIES AUTHORITY THE CALCULATION FOR COMPUTING NO REBATE DUE WAS PERFORMED ON 11/08/2013 ISSUER NAME: NEW HAMPSHIRE HEALTH & EDUC FACILITIES AUTHORITY THE CALCULATION FOR COMPUTING NO REBATE DUE WAS PERFORMED ON 12/21/2017 AS REFLECTED IN THE IRS FORM 8038 THAT WAS FILED IN CONNECTION WITH THE ISSUANCE OF THE SERIES 2016A BONDS, 100% OF THE PROCEEDS OF THE ISSUE WERE DEPOSITED ON THE ISSUE DATE OF THE SERIES 2016A BONDS IN AN IRREVOCABLE ESCROW FUND TO ADVANCE REFUND CERTAIN TAX EXEMPT OBLIGATIONS ISSUED FOR THE BENEFIT OF THE COLLEGE IN 2009. AS REFLECTED IN A VERIFICATION REPORT DATED APRIL 29, 2016, WHICH WAS PREPARED BY A THIRD PARTY IN CONNECTION WITH THE ISSUANCE OF THE SERIES 2016A BONDS, THE AGGREGATE YIELD OF THE INVESTMENTS IN SUCH ESCROW FUND IS LESS THAN THE YIELD ON THE SERIES 2016A BONDS FOR THE YIELD COMPUTATION PERIOD DURING WHICH AMOUNTS IN THE ESCROW FUND WILL REMAIN UNSPENT. ACCORDINGLY, NO REBATE LIABILITY HAS ARISEN OR WILL ARISE UNDER CODE SECTION 148(F) WITH RESPECT TO THE SERIES 2016A BONDS, AND NO REBATE COMPUTATION WAS REQUIRED TO BE PREPARED IN CONNECTION WITH THE SERIES 2016A BONDS. AS REFLECTED IN THE IRS FORM 8038 THAT WAS FILED IN CONNECTION WITH THE ISSUANCE OF THE SERIES 2017 BONDS, AFTER PAYING CERTAIN ISSUANCE COSTS, THE REMAINING PROCEEDS WERE DEPOSITED ON THE ISSUE DATE IN AN IRREVOCABLE ESCROW FUND TO ADVANCE REFUND CERTAIN TAXEXEMPT OBLIGATIONS ISSUED FOR THE BENEFIT OF THE COLLEGE IN 2009. AS REFLECTED IN A VERIFICATION REPORT DATED DECEMBER 21, 2017, WHICH WAS PREPARED BY A THIRD PARTY IN CONNECTION WITH THE ISSUANCE OF THE SERIES 2017 BONDS, THE AGGREGATE YIELD OF THE INVESTMENTS IN SUCH ESCROW FUND IS LESS THAN THE YIELD ON THE SERIES 2017 BONDS FOR THE YIELD COMPUTATION PERIOD DURING WHICH AMOUNTS IN THE ESCROW FUND WILL REMAIN UNSPENT. ACCORDINGLY, NO REBATE LIABILITY HAS ARISEN OR WILL ARISE FOR THE SERIES 2017 ISSUE, AND NO REBATE COMPUTATION WAS REQUIRED TO BE PREPARED IN CONNECTION WITH THE SERIES 2017 BONDS. 66 2017 Return Trustees of Dartmouth College 02-0222111 SCHEDULE L (Form 990 or 990-EZ) ▶ Complete Department of the Treasury Internal Revenue Service Transactions With Interested Persons OMB No. 1545-0047 TRUSTEES OF DARTMOUTH COLLEGE 1 3 02-0222111 Excess Benefit Transactions (section 501(c)(3), section 501(c)(4), and 501(c)(29) organizations only). Complete if the organization answered “Yes” on Form 990, Part IV, line 25a or 25b, or Form 990-EZ, Part V, line 40b. (b) Relationship between disqualified person and organization (a) Name of disqualified person (1) (2) (3) (4) (5) (6) 2 Open To Public Inspection Employer identification number Name of the organization Part I 2017 if the organization answered “Yes” on Form 990, Part IV, line 25a, 25b, 26, 27, 28a, 28b, or 28c, or Form 990-EZ, Part V, line 38a or 40b. ▶ Attach to Form 990 or Form 990-EZ. ▶ Go to www.irs.gov/Form990 for instructions and the latest information. (d) Corrected? (c) Description of transaction Yes Enter the amount of tax incurred by the organization managers or disqualified persons during the year under section 4958 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ▶ Enter the amount of tax, if any, on line 2, above, reimbursed by the organization Part II (b) Relationship with organization (c) Purpose of loan (d) Loan to or from the organization? To Part III . . . . . . . ▶ $ $ Loans to and/or From Interested Persons. Complete if the organization answered “Yes” on Form 990-EZ, Part V, line 38a or Form 990, Part IV, line 26; or if the organization reported an amount on Form 990, Part X, line 5, 6, or 22. (a) Name of interested person (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Total . No . (e) Original principal amount (f) Balance due (g) In default? (h) Approved (i) Written by board or agreement? committee? Yes From No Yes No Yes No . . . . . . . . . . . . . . . . . . . . . . . .▶ $ Grants or Assistance Benefiting Interested Persons. Complete if the organization answered “Yes” on Form 990, Part IV, line 27. (a) Name of interested person (b) Relationship between interested person and the organization (c) Amount of assistance (d) Type of assistance (e) Purpose of assistance (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ. 5/13/2019 8:13:38 AM 67 Cat. No. 50056A 2017 Return Schedule L (Form 990 or 990-EZ) 2017 Trustees of Dartmouth College 02-0222111 Schedule L (Form 990 or 990-EZ) 2017 Part IV Page 2 Business Transactions Involving Interested Persons. Complete if the organization answered “Yes” on Form 990, Part IV, line 28a, 28b, or 28c. (a) Name of interested person (b) Relationship between interested person and the organization (c) Amount of transaction (d) Description of transaction (e) Sharing of organization’s revenues? Yes No (1) (SEE STATEMENT) (2) (3) (4) (5) (6) (7) (8) (9) (10) Supplemental Information Part V Provide additional information for responses to questions on Schedule L (see instructions). Schedule L (Form 990 or 990-EZ) 2017 5/13/2019 8:13:38 AM 68 2017 Return Trustees of Dartmouth College 02-0222111 Part IV Business Transactions Involving Interested Persons (continued) (a) Name of interested person (b) Relationship between interested person and the organization (1) TPG GROUP (2) TPG GROUP DARTMOUTH TRUSTEE AND TPG FOUNDING PARTNER DARTMOUTH TRUSTEE AND TPG FOUNDING PARTNER (3) GAIL GENTES SPOUSE OF OFFICER (4) PAUL YOUNG SPOUSE OF OFFICER 5/13/2019 8:13:38 AM 69 (c) Amount of transaction (d) Description of transaction (e) Sharing of organization's revenues? Yes No $174,165 CAPITAL CONTRIBUTION $1,882,956 CAPITAL DISTRIBUTION 2017 COMPENSATION $75,813 CALENDAR AS AN EMPLOYEE 2017 COMPENSATION $155,005 CALENDAR AS AN EMPLOYEE 2017 Return Trustees of Dartmouth College 02-0222111 SCHEDULE M (Form 990) OMB No. 1545-0047 Noncash Contributions 2017 ▶ Complete Department of the Treasury Internal Revenue Service if the organizations answered “Yes” on Form 990, Part IV, lines 29 or 30. to Form 990. ▶ Go to www.irs.gov/Form990 for the latest information. ▶ Attach Open to Public Inspection Employer identification number Name of the organization TRUSTEES OF DARTMOUTH COLLEGE Part I 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30a 02-0222111 Types of Property Art—Works of art . . Art—Historical treasures Art—Fractional interests Books and publications Clothing and household goods . . . . . . . . . . . . . . . . . . . . . (a) Check if applicable (b) Number of contributions or items contributed ✔ 23 ✔ 790 6 Cars and other vehicles . . Boats and planes . . . . Intellectual property . . . Securities—Publicly traded . Securities—Closely held stock Securities—Partnership, LLC, or trust interests . . . . . . . . . . ✔ Securities—Miscellaneous Qualified conservation contribution—Historic structures . . . . . . Qualified conservation contribution—Other . . . . ✔ . . . . ✔ (c) Noncash contribution amounts reported on Form 990, Part VIII, line 1g (d) Method of determining noncash contribution amounts 27 $1 PER DONOR CREDIT 62,297,861 MARKET VALUE 509,271 MARKET VALUE 2 1 2 1 Real estate—Residential . . . Real estate—Commercial . . Real estate—Other . . . . . Collectibles . . . . . . . ✔ 1 1 Food inventory . . . . . . Drugs and medical supplies . . Taxidermy . . . . . . . Historical artifacts . . . . . Scientific specimens . . . . Archeological artifacts . . . ✔ 7 7 Other ▶ ( SELF-CREATED ) ✔ 7 7 Other ▶ ( MISCELLANEOUS ) ✔ 5 5 Other ▶ ( SPECIALIZED EQUIPMENT ) ✔ 3 4 Other ▶ ( HORSES & EQUIPMENT ) Number of Forms 8283 received by the organization during the tax year for contributions for which the organization completed Form 8283, Part IV, Donee Acknowledgement . . . . . MARKET VALUE MARKET VALUE $1 PER DONOR CREDIT $1 PER DONOR CREDIT $1 PER DONOR CREDIT $1 PER DONOR CREDIT $1 PER DONOR CREDIT 29 9 Yes No During the year, did the organization receive by contribution any property reported in Part I, lines 1 through 28, that it must hold for at least three years from the date of the initial contribution, and which isn't required to be used for exempt purposes for the entire holding period? . . . . . . . . . . . . . . . b If “Yes,” describe the arrangement in Part II. 31 Does the organization have a gift acceptance policy that requires the review of any contributions? . . . . . . . . . . . . . . . . . . . . . . . . . . . 32a Does the organization hire or use third parties or related organizations to solicit, process, or contributions? . . . . . . . . . . . . . . . . . . . . . . . . . . . nonstandard . . . . sell noncash . . . . 30a ✔ 31 ✔ 32a ✔ b If “Yes,” describe in Part II. 33 If the organization didn't report an amount in column (c) for a type of property for which column (a) is checked, describe in Part II. For Paperwork Reduction Act Notice, see the Instructions for Form 990. 5/13/2019 8:13:38 AM 70 Cat. No. 51227J 2017 Return Schedule M (Form 990) 2017 Trustees of Dartmouth College 02-0222111 Part II Supplemental Information. Provide the information required by Part I, lines 30b, 32b, and 33, and whether the organization is reporting in Part I, column (b), the number of contributions, the number of items received, or a combination of both. Also complete this part for any additional information. Return Reference - Identifier Explanation SCHEDULE M, PART I ART - WORKS OF ART - THE NUMBER IS DETERMINED BY THE NUMBER OF CONTRIBUTIONS. EXPLANATIONS OF REPORTING METHOD FOR SECURITIES - PUBLICLY TRADED - THE NUMBER IS DETERMINED BY COUNTING EACH SET OF SECURITIES NUMBER OF DONATED. CONTRIBUTIONS SECURITIES - CLOSELY HELD STOCK - THE NUMBER IS DETERMINED BY THE NUMBER OF CONTRIBUTIONS. SECURITIES - PARTNERSHIP, LLC, OR TRUST INTERESTS - THE NUMBER IS DETERMINED BY THE NUMBER OF CONTRIBUTIONS. SECURITIES - MISCELLANEOUS - THE NUMBER IS DETERMINED BY THE NUMBER OF CONTRIBUTIONS. FOOD INVENTORY - THE NUMBER IS DETERMINED BY THE NUMBER OF CONTRIBUTIONS. OTHER - SELF-CREATED THE NUMBER IS DETERMINED BY THE NUMBER OF CONTRIBUTIONS. OTHER - MISCELLANEOUS THE NUMBER IS DETERMINED BY THE NUMBER OF CONTRIBUTIONS. OTHER - SPECIALIZED EQUIPMENT THE NUMBER IS DETERMINED BY THE NUMBER OF CONTRIBUTIONS. SCHEDULE M, PART I, LINE 32B - THIRD PARTIES USED TO SOLICIT, PROCESS, OR SELL NONCASH CONTRIBUTIONS SCHEDULE M, PART I, LINE 33 - 5/13/2019 8:13:38 AM OTHER - HORSES & EQUIPMENT THE NUMBER IS DETERMINED BY THE NUMBER OF CONTRIBUTIONS. DARTMOUTH OCCASIONALLY USES THIRD PARTIES, INCLUDING AUCTION HOUSES, TO SELL SPECIALIZED ITEMS SUCH AS JEWELRY AND ART. PURSUANT TO ACCOUNTING STANDARDS CODIFICATION 958(ASC 958), DARTMOUTH DOES NOT CAPITALIZE ITS COLLECTIONS, INCLUDING WORKS OF ART, LITERARY WORKS, HISTORICAL TREASURES AND ARTIFACTS THAT ARE MAINTAINED IN ITS MUSEUMS AND LIBRARIES. NON-CASH CONTRIBUTIONS OF THIS NATURE ARE, THEREFORE, NOT RECOGNIZED AS REVENUE FOR FINANCIAL STATEMENT PURPOSES, EXCEPT FOR A NOMINAL VALUE OF $1 EACH. THESE COLLECTIONS ARE PROTECTED AND PRESERVED FOR PUBLIC EXHIBITION, EDUCATION, RESEARCH AND THE FURTHERANCE OF PUBLIC SERVICE. OTHER NONCASH CONTRIBUTIONS WITH NO READILY ASCERTAINABLE FAIR VALUE OR WHICH ARE DEEMED IMMATERIAL ARE NOT RECOGNIZED AS REVENUE FOR FINANCIAL STATEMENT PURPOSES, EXCEPT FOR A NOMINAL VALUE OF $1 EACH. 71 2017 Return Trustees of Dartmouth College 02-0222111 SCHEDULE O (Form 990 or 990-EZ) OMB No. 1545-0047 Supplemental Information to Form 990 or 990-EZ Complete to provide information for responses to specific questions on Form 990 or 990-EZ or to provide any additional information. 2017 Attach to Form 990 or 990-EZ. Department of Treasury Internal Revenue Service Open to Public Inspection Go to www.irs.gov/Form990 for the latest information. Name of the Organization Employer Identification Number TRUSTEES OF DARTMOUTH COLLEGE 02-0222111 Return Reference - Identifier Explanation FORM 990 PART IV, LINE 28C BUSINESS TRANSACTIONS WITH INTERESTED PERSONS SPECIALIZED AND RIGOROUS CONFLICT-OF-INTEREST REQUIREMENTS APPLY TO DARTMOUTH INVESTMENTS WITH FIRMS IN WHICH RELATED PARTIES (E.G., TRUSTEES OR NON-TRUSTEE INVESTMENT COMMITTEE MEMBERS, AS WELL AS OTHER CATEGORIES OF OFFICERS AND DARTMOUTH EMPLOYEES) HAVE A FINANCIAL INTEREST. UNDER THE NEW HAMPSHIRE PECUNIARY BENEFIT LAW (REVISED STATUTES ANNOTATED, CHAPTER 7:19-A) AND DARTMOUTH'S POLICY ON PECUNIARY BENEFIT TRANSACTIONS AND RELATED PARTY INVESTMENTS, SUCH INVESTMENTS ARE SUBJECT TO SUBSTANTIAL OVERSIGHT. BEFORE SUCH AN INVESTMENT MAY BE MADE, THE INVESTMENT OFFICE MUST SUBMIT TO THE BOARD OF TRUSTEES AN ANALYSIS DOCUMENTING (1) THAT THE TRANSACTION IS FAIR AND REASONABLE TO DARTMOUTH; AND (2) THAT THE TERMS OF THE INVESTMENT ARE NO LESS FAVORABLE TO DARTMOUTH THAN THE TERMS OF OTHER RECENT SIMILAR INVESTMENTS NOT INVOLVING RELATED PARTIES. THE ANALYSIS MUST ALSO DOCUMENT THAT DARTMOUTH'S INVESTMENT WOULD NOT COMPRISE MORE THAN 10% OF THE FUND AND MUST IDENTIFY ANY OTHER INSTITUTIONAL INVESTORS WHO HAVE COMMITTED TO PARTICIPATE IN THE SAME FUND. BASED ON THIS INFORMATION, THE PROPOSED INVESTMENT IS CONSIDERED BY THE INVESTMENT COMMITTEE OF THE BOARD OF TRUSTEES, THE AUDIT COMMITTEE AND THE FULL BOARD. IN EACH INSTANCE, ANY TRUSTEE OR NON-TRUSTEE INVESTMENT COMMITTEE MEMBER ASSOCIATED WITH THE FIRM INVOLVED IN THE INVESTMENT MUST BE RECUSED FROM THE DISCUSSION AND VOTE. THE INVESTMENT MAY NOT BE MADE UNLESS THE AUDIT COMMITTEE APPROVES, AND THE INVESTMENT COMMITTEE AND THE BOARD EACH GIVE THEIR APPROVAL BY A TWO-THIRDS MAJORITY OF DISINTERESTED MEMBERS. IN ACCORDANCE WITH STATE LAW, A NOTICE OF THE PROPOSED INVESTMENT, IF IN THE AMOUNT OF $5,000 OR MORE - IDENTIFYING DARTMOUTH, THE RELATED PARTY, THE INVESTMENT FIRM, AND THE AMOUNT OF THE INVESTMENT - IS THEN FILED WITH THE STATE ATTORNEY GENERAL'S OFFICE AND PUBLISHED IN THE LOCAL DAILY NEWSPAPER, BEFORE THE INVESTMENT CAN OCCUR. ON AN ANNUAL BASIS, THE CHIEF INVESTMENT OFFICER MUST SUBMIT A REPORT TO THE AUDIT COMMITTEE CONTAINING INFORMATION ABOUT RELATED PARTY INVESTMENTS, INCLUDING A COMPARISON OF THE PERFORMANCE OF SUCH INVESTMENTS WITH THE PERFORMANCE OF OTHER INVESTMENTS DURING THE PREVIOUS FISCAL YEAR. FORM 990, PART III, LINE 4A PROGRAM SERVICE DESCRIPTION ACCESS TO MULTIPLE TYPES OF RESOURCES, INCLUDING APPROXIMATELY 3.5 MILLION PRINT AND DIGITAL BOOKS, 568,000 ITEMS OF PHOTOGRAPHIC MATERIAL, 202,000 MAPS, 137,000 DIGITAL RESOURCES SUCH AS INDEXES, DATABASES AND JOURNALS, 35,000 FILMS AND VIDEOS, AND 30,000 SOUND RECORDINGS. STATE-OF-THE-ART COMPUTING RESOURCES ARE AVAILABLE TO FACULTY AND STUDENTS TO FOSTER INNOVATION AND EXCELLENCE IN RESEARCH AND IN THE CURRICULUM. FORM 990, PART III, LINE 4B PROGRAM SERVICE DESCRIPTION OTHERS ENGAGED IN SPONSORED ACTIVITY RECEIVED $197.7 MILLION IN AWARDS FROM EXTERNAL FUNDING AGENCIES. FORM 990, PART VI, LINE 11B REVIEW OF FORM 990 BY GOVERNING BODY THE 990 REVIEW PROCESS IS AS FOLLOWS: A DRAFT OF THE COMPLETED FORM 990 IS SENT TO THE AUDIT COMMITTEE AND A DRAFT OF THE SECTIONS CONCERNING COMPENSATION IS SENT TO THE ORGANIZATIONAL STRATEGY AND COMPENSATION COMMITTEE. THE ORGANIZATIONAL STRATEGY AND COMPENSATION COMMITTEE MAY CONTACT MANAGEMENT OR THE AUDIT COMMITTEE WITH ANY QUESTIONS OR CONCERNS ON THE COMPENSATION SECTIONS. THE AUDIT COMMITTEE THEN MEETS WITH SENIOR MANAGEMENT PERSONNEL TO REVIEW THE PROCESS BY WHICH THE FORM 990 WAS PREPARED, DISCUSS ANY ITEMS OF SIGNIFICANCE, AND RESOLVE ANY QUESTIONS. THE AUDIT COMMITTEE THEN VOTES TO ACCEPT THE FORM 990 BASED ON MANAGEMENT'S REPRESENTATIONS. PRIOR TO THE RETURN BEING FILED, A DRAFT OF THE COMPLETE FORM 990 IS PROVIDED TO THE FULL BOARD. AT THE NEXT MEETING OF THE BOARD OF TRUSTEES, THE AUDIT COMMITTEE REPORTS TO THE FULL BOARD ON THE RESULTS OF ITS REVIEW. FORM 990, PART VI, LINE 12C CONFLICT OF INTEREST POLICY COMPLIANCE WITH DARTMOUTH'S INSTITUTION-WIDE CONFLICT OF INTEREST POLICY IS REQUIRED BY COLLEGE POLICY. COMPLIANCE IS MONITORED BY THE OFFICE OF THE GENERAL COUNSEL, WHICH REVIEWS INFORMATION CONCERNING POTENTIAL CONFLICTS SOLICITED FROM APPROXIMATELY 355 TRUSTEES, FACULTY, AND STAFF MEMBERS EACH YEAR. COMPLIANCE WITH THE REQUIREMENTS OF THE POLICY CONCERNING RESEARCHERS ENGAGED IN EXTERNALLY SPONSORED RESEARCH IS ENFORCED AND MONITORED BY THE OFFICE OF THE PROVOST, AND PARTICULARLY BY THE OFFICE OF SPONSORED PROJECTS AND THE CONFLICT OF INTEREST COMMITTEE OF THE COUNCIL ON SPONSORED ACTIVITIES WHICH, IN ACCORDANCE WITH FEDERAL REGULATIONS, SOLICIT INFORMATION FROM RESEARCHERS CONCERNING FINANCIAL INTERESTS THAT MAY AFFECT OR BE AFFECTED BY PROPOSED RESEARCH. IN ADDITION, THE OFFICE OF THE GENERAL COUNSEL AND THE INVESTMENT OFFICE MONITOR COMPLIANCE WITH THE POLICY ON PECUNIARY BENEFIT TRANSACTIONS AND RELATED PARTY INVESTMENTS. 5/13/2019 8:13:38 AM 72 2017 Return Trustees of Dartmouth College 02-0222111 Return Reference - Identifier Explanation FORM 990, PART VI, LINE 15A PROCESS TO ESTABLISH COMPENSATION OF TOP MANAGEMENT OFFICIAL THE PROCESS FOR DETERMINING THE COMPENSATION OF DARTMOUTH'S PRESIDENT AND OTHER OFFICERS AND KEY EMPLOYEES IS AS FOLLOWS: (1) COMPARABILITY DATA ARE GATHERED BY THE CHIEF HUMAN RESOURCES OFFICER FROM A COMPENSATION SURVEY CONDUCTED BY A NATIONALLY KNOWN COMPENSATION CONSULTING FIRM AND SHARED WITH OFFICIALS RESPONSIBLE FOR SETTING THE COMPENSATION FOR THE OFFICERS AND KEY EMPLOYEES. (2) RECOMMENDATIONS FOR COMPENSATION ADJUSTMENTS FOR OFFICERS AND KEY EMPLOYEES ARE PREPARED BY THE OFFICIALS RESPONSIBLE FOR SETTING THE COMPENSATION OF SAID EMPLOYEES, USING COMPARABILITY DATA AND A REVIEW OF THE EMPLOYEE'S PERFORMANCE. (3) THE OFFICIALS' RECOMMENDATIONS ARE PRESENTED FOR APPROVAL TO THE ORGANIZATIONAL STRATEGY AND COMPENSATION COMMITTEE OF THE BOARD, TOGETHER WITH THE COMPARABILITY DATA. (4) COMPARABILITY DATA FOR THE PRESIDENT'S COMPENSATION IS ALSO PRESENTED TO THE ORGANIZATIONAL STRATEGY AND COMPENSATION COMMITTEE BY THE CHIEF HUMAN RESOURCES OFFICER. THE BOARD OF TRUSTEES APPROVES THE PRESIDENT'S COMPENSATION. THE PRESIDENT AND THE INVESTMENT COMMITTEE JOINTLY APPROVE THE CHIEF INVESTMENT OFFICER'S COMPENSATION. FORM 990, PART VI, LINE 15B PROCESS TO ESTABLISH COMPENSATION OF OTHER EMPLOYEES THE PROCESS FOR DETERMINING THE COMPENSATION FOR DARTMOUTH'S OTHER OFFICERS AND KEY EMPLOYEES IS DESCRIBED ABOVE. FORM 990, PART VI, LINE 19 REQUIRED DOCUMENTS AVAILABLE TO THE PUBLIC DARTMOUTH MAKES ITS GOVERNING DOCUMENT (THE CHARTER OF DARTMOUTH COLLEGE), CONFLICT OF INTEREST POLICIES AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC BY POSTING THESE DOCUMENTS ON ITS WEBSITE. FORM 990, PART XI, LINE 9 OTHER CHANGES IN NET ASSETS OR FUND BALANCES (a) Description NET UNREALIZED CHANGE IN VALUE OF NON-INVESTMENT ITEMS NET CHANGE IN SPLIT-INTEREST AGREEMENTS 5/13/2019 8:13:38 AM 73 2017 Return (b) Amount 204,141,961 8,342,364 Trustees of Dartmouth College 02-0222111 SCHEDULE R (Form 990) Department of the Treasury Internal Revenue Service OMB No. 1545-0047 Related Organizations and Unrelated Partnerships ▶ 2017 Complete if the organization answered “Yes” on Form 990, Part IV, line 33, 34, 35b, 36, or 37. ▶ Attach to Form 990. ▶ Go to www.irs.gov/Form990 for instructions and the latest information. Open to Public Inspection Employer identification number Name of the organization TRUSTEES OF DARTMOUTH COLLEGE Part I 02-0222111 Identification of Disregarded Entities. Complete if the organization answered “Yes” on Form 990, Part IV, line 33. (a) Name, address, and EIN (if applicable) of disregarded entity (b) Primary activity (1) TUCK CAPITAL PARTNERS MANAGEMENT, LLC (47-5516892) 100 TUCK HALL, HANOVER, NH 03755 (2) TUCK/DEN VENTURES MANAGEMENT, LLC (47-5535191) 100 TUCK HALL, HANOVER, NH 03755 (c) Legal domicile (state or foreign country) (d) Total income (e) End-of-year assets (f) Direct controlling entity INVESTMENTS NH 0 OF 0 TRUSTEES DARTMOUTH INVESTMENTS NH 0 OF 0 TRUSTEES DARTMOUTH COLLEGE COLLEGE (3) (4) (5) (6) Part II Identification of Related Tax-Exempt Organizations. Complete if the organization answered “Yes” on Form 990, Part IV, line 34, because it had one or more related tax-exempt organizations during the tax year. (a) Name, address, and EIN of related organization (b) Primary activity (c) Legal domicile (state or foreign country) (d) Exempt Code section (e) Public charity status (if section 501(c)(3)) (f) Direct controlling entity (g) Section 512(b)(13) controlled entity? Yes (1) DARTMOUTH EDUCATIONAL LOAN CORPORATION (02-0362923) EDUCATIONAL LOANS NH 7 LEBANON STREET, SUITE 302, HANOVER, NH 03755 (2) SEVEN LEBANON STREET, INC. (02-0514301) 7 LEBANON STREET, SUITE 302, HANOVER, NH 03755 (3) SOUTH STREET DOWNTOWN HOLDINGS, INC. (02-0518373) REAL ESTATE HOLDING REAL ESTATE HOLDING REAL ESTATE HOLDING 7 LEBANON STREET, SUITE 302, HANOVER, NH 03755 (4) FOUNDATION FOR JEWISH LIFE AT DARTMOUTH (02-0486238) 7 LEBANON STREET, SUITE 302, HANOVER, NH 03755 (5) HAMDEN ASSURANCE RISK RETENTION GROUP, INC. (20-8530788) INSURANCE 30 MAIN STREET SUITE 330, BURLINGTON, VT 05401 (6) DARTMOUTH COLLEGE TRUST 7 LEBANON STREET, SUITE 302, HANOVER, NH 03755 (7) (SEE STATEMENT) FUNDRAISING For Paperwork Reduction Act Notice, see the Instructions for Form 990. 5/13/2019 8:13:38 AM 501(C)(3) NH 501(C)(25) NH 501(C)(25) NH 501(C)(2) VT 501(C)(3) UNITED KINGDOM (ENGLAND, NORTHERN IRELAND, SCOTLAND, AND WALES) 12 TYPE I COLLEGE TRUSTEES OF DARTMOUTH COLLEGE TRUSTEES OF DARTMOUTH COLLEGE TRUSTEES OF DARTMOUTH COLLEGE DARTMOUTHHITCHCOCK CLINIC TRUSTEES OF DARTMOUTH COLLEGE No ✔ ✔ ✔ ✔ ✔ ✔ Schedule R (Form 990) 2017 Cat. No. 50135Y 74 OF 12 TYPE I TRUSTEES DARTMOUTH 2017 Return Trustees of Dartmouth College 02-0222111 Page 2 Schedule R (Form 990) 2017 Part III Identification of Related Organizations Taxable as a Partnership. Complete if the organization answered “Yes” on Form 990, Part IV, line 34, because it had one or more related organizations treated as a partnership during the tax year. (a) Name, address, and EIN of related organization (b) Primary activity (c) Legal domicile (state or foreign country) (d) Direct controlling entity (e) Predominant income (related, unrelated, excluded from tax under sections 512—514) (f) Share of total income (g) (h) Share of end-of- Disproportionate year assets allocations? Yes No (i) Code V—UBI amount in box 20 of Schedule K-1 (Form 1065) (j) General or managing partner? (k) Percentage ownership Yes No (1) (SEE STATEMENT) (2) (3) (4) (5) (6) (7) Part IV Identification of Related Organizations Taxable as a Corporation or Trust. Complete if the organization answered “Yes” on Form 990, Part IV, line 34, because it had one or more related organizations treated as a corporation or trust during the tax year. (a) Name, address, and EIN of related organization (b) Primary activity (c) Legal domicile (state or foreign country) (d) Direct controlling entity (e) (f) Type of entity Share of total (C corp, S corp, or trust) income (g) (h) Share of Percentage end-of-year assets ownership (i) Section 512(b)(13) controlled entity? Yes No (1) (SEE STATEMENT) (2) (3) (4) (5) (6) (7) Schedule R (Form 990) 2017 5/13/2019 8:13:38 AM 75 2017 Return Trustees of Dartmouth College 02-0222111 Page 3 Schedule R (Form 990) 2017 Part V Transactions With Related Organizations. Complete if the organization answered “Yes” on Form 990, Part IV, line 34, 35b, or 36. Note: Complete line 1 if any entity is listed in Parts II, III, or IV of this schedule. 1 During the tax year, did the organization engage in any of the following transactions with one or more related organizations listed in Parts II–IV? a Receipt of (i) interest, (ii) annuities, (iii) royalties, or (iv) rent from a controlled entity . . . . . . . . . . . . . . . . . . . . b Gift, grant, or capital contribution to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . c Gift, grant, or capital contribution from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . d Loans or loan guarantees to or for related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . e Loans or loan guarantees by related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . f g h i j Dividends from related organization(s) . . . . . . . . . . . Sale of assets to related organization(s) . . . . . . . . . . . Purchase of assets from related organization(s) . . . . . . . . Exchange of assets with related organization(s) . . . . . . . . Lease of facilities, equipment, or other assets to related organization(s) k l m n o Lease of facilities, equipment, or other assets from related organization(s) . . . . . . Performance of services or membership or fundraising solicitations for related organization(s) Performance of services or membership or fundraising solicitations by related organization(s) Sharing of facilities, equipment, mailing lists, or other assets with related organization(s) . . Sharing of paid employees with related organization(s) . . . . . . . . . . . . . p Reimbursement paid to related organization(s) for expenses . q Reimbursement paid by related organization(s) for expenses . r s 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Yes . . . . . . . . . . . . . . . 1a 1b 1c 1d 1e . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1f 1g 1h 1i 1j . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1k 1l 1m 1n 1o . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1p 1q No ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ Other transfer of cash or property to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1r Other transfer of cash or property from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ✔ 1s If the answer to any of the above is “Yes,” see the instructions for information on who must complete this line, including covered relationships and transaction thresholds. (a) Name of related organization (b) Transaction type (a—s) (c) Amount involved (d) Method of determining amount involved DARTMOUTH EDUCATIONAL LOAN CORPORATION A 2,102,100 COST DARTMOUTH EDUCATIONAL LOAN CORPORATION R 2,034,186 COST DARTMOUTH EDUCATIONAL LOAN CORPORATION L 155,224 COST FOUNDATION FOR JEWISH LIFE AT DARTMOUTH L 98,658 COST FOUNDATION FOR JEWISH LIFE AT DARTMOUTH S 51,000 COST (1) (2) (3) (4) (5) (SEE STATEMENT) (6) Schedule R (Form 990) 2017 5/13/2019 8:13:38 AM 76 2017 Return Trustees of Dartmouth College 02-0222111 Page 4 Schedule R (Form 990) 2017 Part VI Unrelated Organizations Taxable as a Partnership. Complete if the organization answered “Yes” on Form 990, Part IV, line 37. Provide the following information for each entity taxed as a partnership through which the organization conducted more than five percent of its activities (measured by total assets or gross revenue) that was not a related organization. See instructions regarding exclusion for certain investment partnerships. (a) Name, address, and EIN of entity (b) Primary activity (c) (d) (e) Legal domicile Predominant Are all partners (state or foreign income (related, section country) unrelated, excluded 501(c)(3) from tax under organizations? sections 512—514) Yes No (f) Share of total income (g) Share of end-of-year assets (h) (i) Code V—UBI Disproportionate allocations? amount in box 20 of Schedule K-1 (Form 1065) Yes No (j) General or managing partner? (k) Percentage ownership Yes No (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) (14) (15) (16) Schedule R (Form 990) 2017 5/13/2019 8:13:38 AM 77 2017 Return Trustees of Dartmouth College 02-0222111 Part II Identification of Related Tax-Exempt Organizations (continued) (a) Name, address and EIN of related organization (b) Primary Activity (c) Legal domicile (d) Exempt Code (state or foreign country) section (e) Public charity status (if section (f) Direct controlling entity 501(c)(3)) THE DARTMOUTH EDUCATIONAL ASSOCIATION (04-6045227) 3 STONEVIEW LANE, SHARON, MA 02067 (7) DARTMOUTH-HITCHCOCK MEDICAL CENTER (22-2715483) ONE MEDICAL CENTER DRIVE, LEBANON, NH 03756-0001 (8) 5/13/2019 8:13:38 AM EDUCATIONAL LOANS HEALTH CARE ADMINISTRATIO N 78 MA 501(C)(3) 12 TYPE III-FI N/A NH 501(C)(3) 12 TYPE I N/A 2017 Return (g) Section 512(b)(13) controlled entity? Yes No Trustees of Dartmouth College 02-0222111 Part III Identification of Related Organizations Taxable as a Partnership (continued) (a) Name, address and EIN of related organization (b) Primary Activity (c) Legal domicile (state or foreign country) TUCK CAPITAL PARTNERS, LP (38-3983593) 100 TUCK HALL, HANOVER, NH 03755 (1) TUCK/DEN VENTURES, LP (30-0887557) 100 TUCK HALL, HANOVER, NH 03755 (2) 5/13/2019 8:13:38 AM INVESTMENTS INVESTMENTS NH NH (d) Direct controlling entity (e) Predominant income TRUSTEES OF DARTMOU EXCLUDED TH COLLEGE TRUSTEES OF DARTMOU EXCLUDED TH COLLEGE 79 (f) Share of total income (g) Share of end-of-year assets related, unrelated, excluded from tax under sections 512514 0 (h) Dispropor tionate allocation s? Yes No 0 (i) Code V (j) (k) UBI amount General Percentage in box 20 of or ownership Schedule K- managing 1 (Form partner? 1065) Yes No 99.00 N/A 99.00 0 0 2017 Return N/A Trustees of Dartmouth College 02-0222111 Part IV Identification of Related Organizations Taxable as a Corporation or Trust (continued) (a) Name, address and EIN of related organization (b) Primary activity (c) Legal domicile (state or foreign country) (1) CHARITABLE REMAINDER UNITRUSTS (94) FUNDRAISING/DEV ELOPMENT NH (2) POOLED INCOME FUNDS (3) FUNDRAISING/DEV ELOPMENT NH 5/13/2019 8:13:38 AM (d) Direct controlling entity TRUSTEES OF DARTMOUTH COLLEGE TRUSTEES OF DARTMOUTH COLLEGE 80 (e) Type of entity (C-corp, S-corp or trust) (f) Share of total income (g) Share of end-of-year assets (h) Percentage ownership (i) Section 512(b)(13) controlled entity? Yes No TRUST TRUST 2017 Return Trustees of Dartmouth College 02-0222111 Part V Transactions with Related Organizations (continued) (a) Name of other organization FOUNDATION FOR JEWISH LIFE AT DARTMOUTH SEVEN LEBANON STREET, INC. (8) SEVEN LEBANON STREET, INC. (9) SEVEN LEBANON STREET, INC. (10) SOUTH STREET DOWNTOWN HOLDING, INC. (11) SOUTH STREET DOWNTOWN HOLDING, INC. (12) SOUTH STREET DOWNTOWN HOLDING, INC. (13) CHARITABLE REMAINDER TRUSTS (2) (14) DARTMOUTH COLLEGE TRUST (6) (7) 5/13/2019 8:13:38 AM (b) Transaction type (a-s) (c) Amount Involved R K L S K L S S C 177,165 1,528,555 135,608 440,000 202,686 171,708 850,000 1,728,516 612,455 81 2017 Return (d) Method of determining amount involved COST COST COST COST COST COST COST COST COST Trustees of Dartmouth College 02-0222111 Part VII Supplemental Information. Provide additional information for responses to questions on Schedule R (see instructions). Return Reference - Identifier Explanation SCHEDULE R, PART IV DARTMOUTH COLLEGE CONTROLS A TOTAL OF 94 CHARITABLE REMAINDER TRUSTS AND 3 POOLED CHARITABLE REMAINDER INCOME FUNDS, ALL DOMICILED IN THE STATE OF NEW HAMPSHIRE. TRUSTS AND POOLED INCOME FUNDS 5/13/2019 8:13:38 AM 82 2017 Return Trustees of Dartmouth College 02-0222111